role of it in service sector
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ROLE OF IT IN SERVICE SECTOR
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What is information technology
IT IS A COMBINATION OF TELECOMMUNICATIONS & COMPUTING TO
OBTAIN , PROCESS, STORE, TRANSMIT AN OUTPUT INFORMATION IN THE
FORM OF VOICE , PICTURES OR TEXT. THIS INCLUDE THE FOLLOWING:
i) SOFTWARE APPLICATIONS & OPERATING SYSTEMS.
2) WEB- BASED INFORMATIONS & APPLICATIONS SUCH AS DISTANCE
LEARNING.
3) iii) TELEPHONES & MEANS OF TELECOMMUNICATIONS
4) .iv) VEDIO EQUIPMENTS & MULTIMEDIA PRODUCTS.
5) v) WORLD WIDE WEB.
6) vi) ELECTRONIC DEVICES SUCH AS PHOTOCOPIERS. :
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IT CAN ATLEAST DO 3 THINGS: IT CAN PROCESS RAW DATA
INTO USEFUL INFORMATION.
ii) IT CAN RECYCLE PROCESSED INFORMATION & USE IT AS
DATA IN ANOTHER PROCESSING STEP.iii) IT CAN PACKAGE INFORMATION IN A NEW FORM SO ITS
EASIER TO UNDERSTAND, MORE ATTRACTIVE, OR MORE
USEFUL.
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PRESENT SCENARIO OF IT IN INDIA
PRESENT SCENARIO OF IT IN INDIA OUR SOCIETY IS BEING RESHAPED BY RAPIDADVANCE IN IT , COMPUTERS, TELECOMMUNICATION NETWORKS & OTHER
DIGITAL SYSTEMS THAT HAVE VASTLY INCREASED OUR CAPACITY TO KNOW,
ACHIEVE & COLLABORATE. THESE TECHNOLOGIES ALLOW PEOPLE TO TRANSMIT
INFORMATION QUICKLY & WIDELY, LINKING DISTANT PLACES & TO CREATE
COMMUNITIES THAT JUST A DECADE AGO WERE UNIMAGINABLE. TODAY ONE
CAN BUY A MUSICAL GREETING CARD WITH A SILICON CHIP THAT IS 100 TIMESFASTER THAN ENIAC. THIS EXTRAORDINARY PACE OF IT EVOLUTION IS BRINGING
PEOPLE & CULTURES TOGETHER & CREATING NEW SOCIAL DYNAMICS IN THE
PROCESS. THE RAPID EVOLUTION OF DIGITAL TECHNOLOGIES IS CREATING NOT
ONLY NEW OPPORTUNITIES FOR THE SOCIETY BUT ALSO CHALLENGES. ENTIRE
INDUSTRIES HAVE BEEN RESTRUCTURED TO BETTER ALIGN THEMSELVES WITH
THE REALTIES OF DIGITAL AGE
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ROLE OF INFORMATION TECHNOLOGY
ROLE OF INFORMATION TECHNOLOGY IT PLAYS A VITAL
ROLE IN TODAYS GLOBAL ECONOMY IT HAS MADE A
SIGNIFICANT IMPACT IN RESEARCH & DEVELOPMENT. THE
RESEARCH IS BEING CARRIED OUT IN NETWORKING,COMPUTING, DATA REPRESENTATION & MANY OTHER
AREAS FOR EXPLORING THE EXISTING METHODOLIGIES.
THE MAJOR AREAS IMPACTED BY THE ADVENT OF IT
INCLUDE BUSINESS, MEDIA, EDUCATION & SO FORTH
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INFORMATION TECHNOLOGY IN
BUSINES
IT PLAYS AN IMPORTANT ROLE IN BUSINESS ENVIRONMENT AS
EVERY ORGANISATION ADOPTS IT IN SOME FORM OR THE OTHER
TO PERFORM THE TASKS IN EFFECTIVE MANNER. IT CONTRIBUTES
TOWARDS NEW & EFFECTIVE WAYS OF PROCESSING BUSINESS
TRANSACTIONS, INTEGRATING BUSINESS PROCESSES,
TRANSFERRING PAYMENTS, & DELIVERING SERVICESELECTRONICALLY. IT INCLUDES BUYING & SELLING OVER THE
INTERNET, ELECTRONIC FUND TRANSFERS, SMART CARDS, DIGITAL
CASH & ALL OTHER WAYS OF DOING BUSINESS OVER DIGITAL
NETWORKS. IT HAS EFFECTED BUSINESS IN FOLLOWING WAYS:
COMPETITIVENESS
SECURITY
iii) COST BENEFITS
iv) MARKETING
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INFORMATION TECHNOLOGY IN
MANUFACTURING
CORPORATES ARE DEVELOPING A MANUFACTURING SOCIETY TO PROVIDEMANUFACTURERS,DISTRIBUTORS AND RESEARCHERS WITH STRUCTURED
METHODS AND PRACTICES FOR IMPLEMENTING TECHNOLOGIES IN
MANUFACTURING ENVIRONMENTS. USING IT ,SIMULATION SYSTEMS HAVE
BEEN DEVELOPED,WHICH ENABLE MANUFACTURERS TO VIRTUALLY PREPARE
PROTO TYPE PLANT LAYOUTS,OPTIMISE RAW MATERIAL USAGE,AND ASSESS
ERGONOMIC FACTORS PRIOR TO INVESTING IN PLANT REDESIGNS OR NEWFACTORIES .RESEARCHERS ARE DEVELOPING NATURAL LANGUAGE
INTERFACES THAT CAN HELP SIMULATE HUMAN TASKS IN A
MANUFACTURING OPERATIONS ENVIRONMENT. :
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IT IN PUBLIC SECTORTHERE IS A GREAT REQUIREMENT TO AUTOMATE SERVICES SUCH AS BOOKING OF
RAILWAY TICKETS & PAYMENT OF ELECTRICITY BILL. IT SECTOR HAS BECOME A
BOON FOR PUBLIC SECTOR COMPANIES BY HELPING THEM TO INCREASE THEIROUTPUT & EFFICIENCY.IT HAS ENABLED THE COMPANIES TO HAVE A GREATER
QUALITY CONTROL SO THAT THEY ARE ABLE TO MEET THE LAID STANDARDS. THIS
HAS BEEN POSSIBLE AS IT HAS BEEN ABLE TO:i) MINIMIZE DUPLICATION &
SHARING OF SCARCE RESOURCES.ii) PROMOTE & INSURE THAT IT SOLUTIONS ARE
COST EFFECTIVE, EFFICIENT & BUSINESS DRIVEN.iii) PROMOTE TRANSPERANCY &ACCOUNTABILITY IN THE PUBLIC SERVICE BY FACILITATING THE AVAILABILITY,
ACCESSIBILITY & SHARING OF INFORMATION
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INFORMATION TECHNOLOGY IN
DEFENCE SERVICES
INFORMATION TECHNOLOGY IN DEFENCE SERVICES TO HELPTHE MILIATRY IMPROVE READINESS & RESPONSE.
MORE FLEXIBLE, TIMELY & DEPENDABLE ACCESS TO
INFORMATION IS NEEDED.
IT CAPABILITY ALLOWS MILITARY PERSONNEL TO LITERALLYCONVERSE WITH COMPUTERS TO CREATE , ACCESS &
MANAGE INFORMATION & SOLVE PROBLEMS.
IT HELPS TO GAIN RELEVANT INFORMATION IN AN
ORGANISED & INTEGRATED MANNER THAT IS READILY
USEABLE BY MILITARY PERSONNEL. FOR E.G. PILOTLESSWARPLANES HAVE BEEN DEVELOPED TO COMBAT ENEMIES AT
THE TIME OF WAR. THIS HAS BEEN POSSIBLE BY GATHERING
INFORMATION & CONVERTING IT INTO TECHNOLOGY
THROUGH MEANS OF R&D.
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INFORMATION TECHNOLOGY IN
MEDIAINFORMATION TECHNOLOGY IN MEDIA SOME EXAMPLES OF IT USED IN MEDIA INCLUDE
AUDIO VISUAL EQUIPMENTS LIKE TELEVISION, RADIO, VCR, VIDEO CAMERAS & COMPUTERS.
THE MEDIA CAN BE BROADLY CLASSIFIED INTO 2 CATEGORIES:
PRINT MEDIA: IT IS THE MOST WIDE SPREAD OF THE MEDIA TECHNOLOGY. IT REMAINS THE
MOST WIDELY ADOPTED, PORTABLE, FLEXIBLE & ECONOMICAL MEDIA.
THR PRESENCE OF IT HAS GREATLY ENHANCED PRINT MEDIAS EFFECTIVENESS, MAKING IT AN
IMPORTANT SOURCE OF INFORMATION FOR E.G. AN EVENT OCCURRING IN THE REMOTEST
AREAS OF THE WORLD CON BE EASILY COVERED WITH THE HELP OF SATELLITE LINKS.
ELECTRONIC MEDIA:
ELECTRONIC MEDIA SUCH AS TELEVISION & RADIO ARE MUCH AHEAD AS COMPARED TO THE
OTHER TYPES OF MEDIA. MULTIMEDIA APPLICATIONS ( SOUNDS, VIDEOS & IMAGES ) ARE
INCREASINGLY BEEN USED AS PART OF GLOBAL REVELOUTION IN ELECTRONIC
MEDIA.INTERNET ALSO FORMS THE PART OF THIS MEDIA.
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INFORMATION TECHNOLOGY IN
EDUCATION
INFORMATION TECHNOLOGY IN EDUCATION THE EMERGING TECHNOLOGIES AFFECTED
THE WAY OF LEARNING AND THE WAY OF PROCESSES(LIKE TRANSACTION) ARE CARRIED
OUT.THE PRESENT EDUCTION SYSYEM IS FACING SUBSTAINSTIAL PRESSURE TO PREPARE THE
STUDENT TO LEARN,LIVE AND WORK IN THE DIGITAL AGE.IT HAS HELPED LEARNERS TO DEVELOP
PROBLEM SOLVING,ANALYTICAL & REASEARCH SKILLS. ELECTRONIC LEARNING:- STUDENTS AND
TEACHERS BOTH GAIN CONSIDERIABLE BENEFIT BY UTILIZING E-LEARNING TOOLS.E-LEARNING INCLUDES COMPUTER BASED TRAINING(CBT) & WEB BASED TRAINING(WBT) CBT IS
THE TRAINING WHERE A COMPUTER PROGRAM PROVIDES MOTIVATION AND FEEDBACK IN
PLACE OF A LIVE INSTRUCTOR.IT CAN BE DELIVERED THROUGH CD-ROM, LAN OR INTERNET.
WBT IS THE TRAINING,WHICH DELIVERS EDUCATIONAL CONTENT THROUGH A WEB BROWSER
OVER THE PUBLIC INTERNET, OR A PRIVATE INTRACT
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VIRTUAL CLASSROOM:-THIS CONCEPT INTRACTIVITY INVLOVES A STUDENT
WITH SOFTWARE WITH REACTS AND INTRESTS ,UNLIKE A BOOK.WITH THE HELP
OF VIRTUAL LEARNING, STUDENTS CAN; SEARCH THE DATABASE FOR THEIRVIEWS AND OF OTHER STUDENTS. LISTEN TO PRE-RECORDED AUDIO
COMMENTS TO ENHANCE KNOWLEDGE. CONVERSE ABOUT THE SUBJECT OR
RELATED MATTERS WITH THE TEACHER AND OTHER STUDENTS THROUGH E-
MAIL AND DISCUSSION GROUPS. USE APPROPRIATE RESOURCES TO SEEK,
ACCESS AND APPLY KNOWLEDGE. THROUGH VIRTUAL CALSSROOMS STUDENTSCAN GET ONLINE EDUCATION FROM REMOTE PLACES
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INFORMATION TECHNOLOGY IN
TRANSPORTATION
INFORMATION TECHNOLOGY IN TRANSPORTATION IN INDIA WITH THE ISSUE OF
COMPUTERISED RAILWAY TICKETS,THE ERRORS HAVE BEEN MINIMIZED A PASSENGER
CAN BOOK THE TRAIN TICKET FROM ANY PART OF THE COUNTRY. THE CINEMA
THEATRES IN ORDER TO AVOID QUEUES AN UNNECCESSARY RUSH FOLLOW THE
SYSTEM OF ONLINE TICKET BOOKING SO THAT THROUGH THE INTERNET ANY ONECAN BOOK TICKETS AT THEIR CONVENIENT PLACES THE APPLICATION OF IT IN THE
TWO MOST IMPORTANT TRANSPORT NAMELY RAILWAYS AND AIR TRANSPORT ARE
FOLLOWING
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RAILWAYS IT HAS BEEN USED EXTENSIVELY IN THE AREA OF RAILWAY
TRANSPORT BY THE DEVELOPED NATIONS ONLY IT HAS LED TO THE
DEVELOPMENT OF COMPUTERISED WAGONS,L
OCOMOTIVES AND TRAIN REPORTING SYSTEMS THAT TRACKS CARGO AND
WAGONS THROUGHOUT THEIR MOVEMENT WHICH HAS ENHANCED THE
EFFICIENCY AND SPEED OF FREIGHT OPREATIONS
ENABLING RAILWAYS TO PLAN THE MOVEMENT OF WAGONS MUCH MOREEFFECTIVELY
IT HAS ALSO IMPROVED CONSIDERABLY SHORT TERM TRAIN PLANNING
RAILWAYS CAN NOW PUBLISH AUTOMATED TIME-TABLE GIVING DETAILS OFTRAINS OPERATING BETWEEN DIFFERENT STATIONS,TRAIN TIMINGS ETC.
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AIR TRANSPORT THE BUSINESS VALUES OF IT APPLICATION IN AIRPORT IS IN THE
FORM OF COST CUTTING,
INCREASED OPERATIONAL EFFICIENCY AND ENHANCED SECURITY AMONG THE
BENEFITS THAT IT OFFERS.
THE CONCEPT OF E-TICKET ALSO BENEFICIAL FOR BOTH THE CUSTOMERS AND THECARRIER. WIRELESS COMMUNICATION CAN ENABLE AIRPORTS PROCESSES TO BE
EFFECTIVE EARLIER IN THE TRAVEL CHAIN WITHOUT ANY PHYSICAL SERVICE DESK.
GIS (GEOGRAPHICAL INFORMATION SYSTEM) ADDS VALUE & OFFER CONSIDERABLE
COST BENEFITS. DECISION SUPPORT SYSTEM (DSS) ARE ESSENTIAL TOOLS OFAIRPORT MANAGEMENT.
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INFORMATION TECHNOLOGY IN
BANKING IN FINANCIAL SECTOR
INFORMATION TECHNOLOGY IN BANKING IN FINANCIAL SECTOR TREMENDOUS
IMPROVEMENT HAS TAKEN PLACE IN THE INDIAN BANKING SECTOR BECAUSE OF
THE IT REVOLUTION. ALL THE PRIVATE & FOREIGN BANKS HAVE GONE FOR 100%
COMPUTERIZATION.
WITH THE HELP OF COMPUTERIZATION THE TRANSACTION TAKE PLACE AT A FASTER
RATE & THE WATING TIME OF A CUSTOMER IN A QUEUE IS GETTING MINIMIZED.
THE COST INCURRED ON INFRASTRUCTURE, FURNITURE & EMPLOYEES HAS GOT
DECREASED BECAUSE OF APPLICATION OF IT.
IN THE FINANCIAL SECTOR, OTHER SERVICES SUCH AS INSURANCE, LEASING
COMPANIES, MORTGAGE COMPANIES, INVESTMENT CONSISTENCY, STOCKEXCHANGES, SHARE REGISTERY & CUSTODIAL SERVICES LIKE DEPOSITARIES PROCESS
LARGE VOLUME OF DATA.
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THE BANKING & INSURANCE COMPANIES USE THE IT TO KEEP TRACK OF THEIR
CUSTOMERS, TRANSACTIONS & FINANCIAL NEEDS. STOCK MARKET USE IT FOR ON
LINE TRADING WITH THE HELP OF COMPUTER BASED TERMINALS CONNECTED TO
TRADING SERVERS. INVESTMENT CONSULTANCY SERVICES USE COMPUTER BASED
SYSTEMS FOR ANALYSIS OF FINANCIAL POSITIONS, INVESTMENT OPPURTUNITIES
AVAILABLE TO THEIR CUSTOMERS. IT IS CHANGING THE VERY CONCEPT OF CASH &
CREDIT THROUGHT THE WORLD. THE FOLLOWING TECHNOLOGICAL ADVANCEMENTSHAVE TAKEN PLACE IN WORLD OF BUSINESS PAYMENTS
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ELECTRONIC FUNDS TRANSFER (EFT) :
IT COVERS A WIDE RANGE OF TRANSACTION SERVICES SUCH AS
i) banking services
ii) funds transfer between accounts at the same bank or at differentbanks.
iii) stock brokerage, services like placement of orders of stocks.
iv) retail ATM services.
v) business transactions involving funds transfer between investment &
overdraft arrangements
ADVANTAGES OF EFT IMMEDIATE & OVERNIGHT TRANSFER OF FUNDS.ONLINE CREDIT AUTHORIZATION. REDUCED NEED FOR CUSTOMERS TO
CARRY CASH OR CHEQUE
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Automated Teller Machines (ATM)
ATMs
ATMs, though operational in the country for quite some time, are expected to make
a big head-way in India. It has been estimated that there are around 400,000 ATMs
worldwide out of which 1,00,000 are located in Japan alone. The latest generation
networked ATMs allow the user to perform upto 150 kinds of transactions ranging
from simple cash withdrawals and deposits, to fund transfer to trading in stocks to
buying mutual funds to something mundane like payment of electricity bills,booking air-tickets and making hotel reservations
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Virtual' BankMultimedia technology has been quite effective in bringing the banking services to
the door-step of its customers.
The customer activated terminal (CAT) or Kiosk is an interactive multimedia display
unit, housed in a small enclosure, typically consisting of a computer workstation,
monitor, video disk player and a card reader.
It allows the customers to browse through information and use the available banking
services at their own speed.
Some banks are thinking of establishing 'virtual' branches where a customer can
walk through the door, explore services by touching parts of the screen and at any
time call up a member of the bank staff by video conferencing.
While the banks do not need to invest heavily in real estate for setting up such a
branch, the customer gets the benefit of 'one-stop banking' at a convenient location.
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15 Electronic Funds Transfer at Point of
Sale (EFTPOS)
(EFTPOS) While travellers' cheques meant 'pay-now-buy-later'
and credit cards had 'buy-now-pay-later' advantages, EFTPOS or
debit cards signify 'buy-now-pay-now' but without cashtransaction. The user presents his ATM card when he buys
goods and the EFTPOS system immediately debits his bank
account
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EDI ELECTRONIC DATA INTERCHANGE) typically denotes paperless financial
transactions across the locations.
EDI is fast becoming the norm for inter-company transactions and also for
procurement of boughtout items from the suppliers.
The companies can now operate their bank accounts through corporate banking
terminals in their own offices which are linked to the bank computers.
Companies can thus carry out transactions like transferring funds, managing its
cash flow, opening letters of credit,etc. without any paper work.
Singapore has established trade-net to facilitate electronic submission of trade
documents by traders to various Govt. agencies and the response of these agencies
to the sender.
It has reduced document processing time from one day to 15-30 minutes and the
estimated saving are of the order of $ 1 billion annually.
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Smart Cards The 'Processor' type smart cards with in-
built integrated circuits (ICs) or micro-chips offer a
wide range of transactional opportunities even from
remote areas. The smart cards are extensively being
used for employee 'clocking in', withdrawing cash
from ATM, using pay-phones, payment of various bills,
etc.
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Information Technology & Services
Sector
Key Issues While the technological possibilities of IT may be unlimited, their applications
and adoption in INdia need a conscious approach towards business process reengineering
of existing practices and procedures to take the fullest advantage of IT.
Continuous training and skill upgradation of human resources assume critical importance
towards absorption of new technologies. T
he elimination of manual records, the introduction of electronic fund transfer, ATMs, etc.
raise the important issue of security and integrity of data.
This includes issues relating to confidentiality of information, preventing data corruption
and prevention of fraud. Appropriate technologies for encryption of data for secured
transaction, regular and multiple backups, extensive use of passwords and other forms ofauthorization would need to be adopted.
For paperless and electronic financial transactions in India, a host of legal aspects need to
be looked into
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As in case of EFT, a cheque is not required to be presented physically for making
payment as per the current practice.
Also the legal liabilities of banks and customers in case of loss of ATM cards, ATM
frauds, etc. are not quite understood in the present system.
The adoption of new technologies would warrant a thorough review of the system
towards changed legal stipulations.
Finally, the most important aspect of costs involved and benefits expected need a
closer scrutiny. Expenditure on IT has always not been in tune with the returns
envisaged. The American example of spending US $ 100 billion on IT applications in
financial services during 1970-80 has been a pointer. With 100 per cent more
expenditure on IT per worker, it increased productivity by only 0.7 per cent per year.
Hence, proper implementation programme and technology management aspects
assume much importance
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This article attempts to touch upon the emerging IT applications in a few select services
sectors. The TIFAC study covers in details the IT aspects in diverse sectors like marketing,
logistics and distribution, technical and management consultancy to even in theGovernment administration.
The services sector covers a vast range of occupations involving comparatively little
capital investment leading to gainful employment and has a very good potential for
export revenues.
The sector calls for continued induction and infusion of knowledge-based technologies
with cutting edge applications of information technology. With the highly skilled
manpower and excellent entrepreneurship qualities, India can truly emerge as a 'global
player' in the services sector.
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Future Scenario for IndiaTelevision would forge ahead with its domineering role in mass media
relegating the print media much behind.
With more and more channels getting available coupled with strong
emergence of cable networks for localized programmes, TV would
pave the way for multi-million rupees entertainment, advertisement
and allied business.
While rural sector would account for nearly 50 per cent of TV
ownership, it is predicted that not more than two-thirds of all the
households across the country would own a TV by 2020.
TV (including satellite and cable transmission) would account for 40
per cent of advertisement outlays in 2020 against 22 per cent at thecurrent level.
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Online electronic newspapers may become a reality in India with the advances
in telecom services but such dramatic changes are unlikely for at least another
five years. Steep rise in input costs, declining advertisement support(anticipated to reduce by 20 per cent) and shortage of trained manpower would
pose major threats to the newspaper industry.
Multimedia technology enabling simultaneous exhchange of voice, text and
data would prove to be a major medium of advertisement. Spending on
advertisement is expected to be around 5 per cent by 2000 and to reach 12-15per cent by 2020 AD.
Ultimately the market would see an increase from Rs. 350 million to Rs. 120-150
billion by 2020. Around 50-75 million household are expected to be potential
users of multimedia by 2020.