Information and Communication Technologies (ICT) is key to boost the country's global competitiveness, says a World Economic Forum study.

According to the study, which builds on the findings of the World Economic Forum's (WEF) Networked Readiness Index 2009-2010, currently the Indian IT industry is estimated to be around USD 50 billion and is the largest job provider.

"With its large talent pool of English-speaking IT professionals, extensive and expanding domestic market, and the increasingly central place occupied by ICT in the government's development strategy, India is well positioned to fully leverage ICT to leapfrog to higher stages of development, reduce poverty and regional income disparities, and reinforce its competitiveness foundations for enhanced prosperity for all Indians," WEF Senior Economist and editor of the study Irene Mia said.

India displays competitive strengths in areas related to human resources, preparation and willingness to use ICT by citizens, businesses and the government.

In particular, ICT has increasingly been prioritised in the government development agenda as a key enabler of economic diversification, and more universal service provision.

It analyses India's advances and challenges related to ICT development for enhanced competitiveness. Also,comparisons are made with a number of countries, including China, Indonesia, the US and Brazil, revealing significant differences in its performance.

The study's in-depth findings will be presented and discussed at the upcoming Summit which is going to take place in New Delhi on November 14-16.

It underlines the remarkable strides India has made in the last two decades, emerging as a global player in sectors such as ITeS-BPO and by increasing ICT penetration and diffusion within its territory.

At the same time it highlights and discusses the challenges ahead, as well as the opportunities for exploiting India's many competitive advantages better when it comes to networked readiness.

India ranks 43 out of 133 countries in the Networked Readiness Index 2009-2010, as a result of a mixed performance across the nine categories covered by the index.

ICT's contribution to economic growth, helps to bridge the digital divide between rural and urban areas and to solve India's upcoming employment challenges.