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IT industry in India has adapted and grown over the past few decades. The country has witnessed changes in regulatory policies and over a period of time adopted these changes into Human Resource Management. The perception of transnational organizations about Indian market as an affordable labor market has created an influx of overseas projects. The outsourcing business model led to many changes within the IT industry which resulted in increase in Indian diaspora. This has led to entrepreneurial growth and slowly the IT Product development industry is evolving. The recent recession left a few bad experiences but the market seems to have recovered.