News From IT Industries
Indian information technology sector has been instrumental in driving
the nation's economy onto the rapid growth curve
A research by Gartner forecasts India as the undisputed leader in the
outsourcing space in the year 2008.
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Future Of InfoTech
Student Hand Book
Updated: April-June 2008
Indian information technology sector has been
instrumental in driving the nation's economy onto the
rapid growth curve. According to the Nasscom-Deloitte
study, the IT/ITES industry's contribution to the
country's GDP has increased to a share of 5.2 per cent
in 2007, as against 1.2 per cent in 1998.
Further, the IT and BPO industries are poised to clock
revenues worth US$ 64 billion by the end of fiscal year
2008, registering a growth of 33 per cent with exports
expected to cross US$ 40 billion and the domestic market
estimated to clock over US$ 23 billion, according to a
study. Simultaneously, the Indian IT services market is
estimated to remain the fastest growing in the Asia
Pacific region with a CAGR of 18.6 per cent, as per a
study by Springboard Research.
India's IT growth in the world is primarily dominated by
IT software and services such as Custom Application
Development and Maintenance (CADM), System Integration,
IT Consulting, Application Management, Infrastructure
Management Services, Software testing, Service-oriented
architecture and Web services.
A report by the Electronics and Software Export
Promotion Council (ESC) estimates software exports to
register a 33 per cent growth in the current financial
year with export figures during FY 2008 expected to
reach US$ 45 billion. The country's IT exports have, in
fact, come quite far, starting from a few million
dollars in the early 1990s. The Government expects the
exports turnover to touch US$ 80 billion by 2011,
growing at an annual rate of 30 per cent per annum
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