The Information Technology (IT) has suffered many advances in recent years due to the development of new hardware and software solutions. These major changes have been noted in recent times in how the authors interact with applications and services in IT. Cloud Computing provides services and applications over the Internet with the promise of infinite capacity and service models of "Pay-as-you-go". Cloud computing can extensively benefit education and healthcare sectors in India for which the government must join hands with local entrepreneurs and provide incentives to the industry. This paper describes the main characteristics of Cloud Computing, future expectations and analyzes the state of knowledge and implementation in Indian companies.