The IT apex trade body Nasscom today said that Gujarat has the potential to lead next wave of growth in the IT/ITeS segment amidst the pack of 44 cities identified by it for future growth in business.

"I think we have just started touching the IT space in Gujarat. In the wake of demand, we see business growing in 44 cities of the country, out of which Ahmedabad, Vadodara and Surat have clearly emerged on the top," Nasscom President Som Mittal said, while speaking at IT Summit-2010 organised here.

Mittal said, it seems that two or three big names in the IT sector are looking to establish base in Gujarat, which could build up the momentum as in the case of Hyderabad, Chennai and Pune in past.

Satyam Computer Services (SCS) now known as Mahindra Satyam today indicated that it will be establishing a base in Gujarat, after getting a strong recommendation from an joint internal panel.

"A combined internal panel of Satyamites and Tech Mahindra have recommended that we grow in Gujarat. Its too early to comment. I could be talking to private sector for growth or I could be talking to Gujarat government," Mahindra Satyam CEO C P Gurnani told PTI.

SCS, had proposed to set up a IT Park in Gandhinagar in December 2006 near the TCS project, but after the multi crore fraud came out in the company, it had abandoned the project and surrendered the land.

"A study conducted by Nasscom reveals that the current revenues in this year will be in excess of USD 70 billion, including the services sector," Mittal said.

Nasscom has projected the revenues to touch USD 225 billion mark by 2020. (More) PTI VKB PD DK

"This year alone we have seen 20 per cent growth in the domestic business, as the government has begun spending on infrastructure creation," Mittal said.

According to Mittal, we believe in next two years just the regulatory changes in the financial world and health care segment will be of large magnitude, and these will throw open immense opportunity.

"Today 90 per cent of all work in IT sector happens in six cities of the country. I think of the 23 lakh work force in the sector, 90 per cent are working in these six cities," Mittal said.

Mittal was reffering to cities like Chennai, Pune, Hyderabad, Bangalore, Mumbai and New Delhi's NCR region comprising Noida, Delhi, Gurgaon.

Nasscom chief batted for Gujarat government's proposed Gujarat International Finance Tech-City (GIFT) as an ideal location for launching cloud computing ventures.

"GIFT, which is being developed as one stop destination for global financial services could be an ideal place for cloud computing projects to take off," Mittal said.

"An AT Kearney report conducted in 2008 with projections for 10 yearS, states that 44 cities identified will grow by 18 times in IT sector, as compared to the growth of 2.5 times in leading cities," a Nasscom member said.