It was a revolution when Internet technology took the world as a storm leaving an impression as if the move is not to know a stop but there did come a stage, as it obtains currently, when the progress came to a standstill and then a dwindling trend started. It gave employment to tens of thousands of people all over the world but soon it fell prey to a world wide slump resulting into a large scale retrenchment. In India, like other countries in the world, it is very much linked to general development progress (GDP) which vulnerably wavers like a candle flicker. Measured in terms of percentage it has been around 4% of GDP growth during the last 4 years. This growth as pronounced by economists was supposed to be 9% during the year 2008-09 but it failed to go beyond 7.8% and obviously the share of progress in IT industry heavily suffered a setback. Computers are the order of the day but their popularity appears to be stagnated at a point. If the present trend of the global market is an indication, there is not much of a chance of GDP growth which only shows that IT industry has to suffer further which again denotes that till sometime back growing popularity of internet technology may get dwindled enormously.