Here I wanted to ask this basic and important doubt that how much does it matter being good at Competitive Programming in the actual Industry Work?
This Competitive Programming is good for logic development but this not the only way.
Will you really need this kind of programming at work place?
In my opinion being able to solve complex analytical problems helps you in all aspects of your life.
Being good at comp. prog. is what makes a programmer stand-out from the average ‘good at something’ programmer. The essence is, to be able to decipher the abstract problem and work your way towards an efficient solution. Its like the bread and butter for building a great ‘dish’, codechef’er :). Skills like acing a language (your primary tool for coding), design skills (patterns/oops et.al), writing readable/maintainable code, debugging techniques, system knowledge (os internals, if you are closer to it), domain sp. knowledge etc essential. Skills you learn here are imperative! keep coding 
It really help if you have some doubts read this .
Also the best thing that you get from competitive programming is problem solving skills and ability to code real life problems. And the best part it is fun. It is like a sport. So,play it with passion.
yes it does helps in a way as it improves understanding of basics of language and ds and algos but…most companies that come for campus requritment are not specifically looking for competitive programmer for job they need a employee with decent knowledge of programming language,ability to code and ds which can be excelled by compititve programming. but as soon as u start working u might never come even close to a compititive world of programming
Hi,
Well if you want an exact detail and or application, I can tell you that on a recent internship which I’ll be starting soon at a consulting company here in Portugal, the interview was quite algorithmic in style and I was asked some classical DP questions which obviously are only very simplified versions of the vast majority of DP problems which we can find here in Codechef.
So, as you can see, sometimes there might be a very direct correlation between Competitive Programming and doing well in a real-life interview for instance.
However, I also share the same opinion of @kmampent, it helps you exercising your mind and developing logical and rational thinking which is really good to have imho
Best,
Bruno