With the global economy showing small green shoots of growth, the
smiles are back on the faces of Indian IT players. Registrations
for the 18th Nasscom ‘India Leadership Forum’ were at a
high with over 1,600 participants. For the record, the IT-BPO
sector aggregated revenues of USD 73.1 billion in FY 2010, a growth
of 5.4 percent over FY 2009. The sector also generated direct
employment for 2.3 million people.
The industry has learnt its lessons from the recession, and is
actively taking steps to sustain India’s advantage, and make
India’s IT industry more resilient to global economic
conditions.
This strategic positioning is best described by Som Mittal,
President, Nasscom, in the Nasscom Strategic Review 2010,
“Recognizing that opportunities that lie ahead will be
different from the past, the industry has redefined its aspirations
for the next decade. It would be specifically be focusing on
embedding itself deep in customer value chains, expansion of design
services in the manufacturing segment, services and delivery
becoming location agnostic and building co-existing
models.”
The cloud as a delivery model is also here to stay, and Indian IT
service providers will need to adapt themselves in this new world
order.
From a growth perspective, the future is still bright. While
India has 51 percent in global offshoring, it has only 12 percent
of the outsourcing market. This optimism was reflected in another
report, titled ‘Asia-Oceania Vision 2020: Enabling IT
leadership through collaboration’ by KPMG and ASOCIO. The
report says that India’s IT-BPO market (including exports)
could touch USD 285 billion in 2020 growing at a CAGR of 15
percent.
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