The IT industry will do exceedingly well in 2013-14 and is expected to meet its projected estimate of 11-14 percent lower end growth in the current financial year, Nasscom has said.

IT sector has crossed UD$100 billion mark last year and is expected to reach at least double-digit growth this year, it has said.

“The IT-BPM (information technology-business process management) industry continues to be a growth sector for India demonstrating double-digit growth. The industry continues to reinvent itself — expanding the market, building new capabilities and a globalised model. Competitiveness, efficiency, service excellence and innovation are the key building blocks for the industry,” Nasscom president Som Mittal said.

“In an effort to pursue our vision of making India a hub for its most successful software products, Nasscom is making representations with governments across levels and recommending them to set up an entrepreneurship mission, change in procurement guidelines and access to funding," he added.

The industry performance for the past half-year has demonstrated the sector’s ability to innovate and deliver in enabling the growth of customer businesses in challenging times. Changing business models, solutions around disruptive technologies and verticalized structures are enabling the industry to emerge as a strategic partner for their customers,” said Nasscom chairman N Chandrasekaran. There is a growing feeling that the market is improving and getting better, he added.

This estimate is based on Nasscom’s analysis of Indian listed companies, multinationals and global in-house centres and industry sectors such as IT services, business processing, outsourcing and products.

“With technology increasingly becoming part of every industry in a multi device, new opportunities are being created for solutions on mobility, analytics, cloud and collaboration. These opportunities are also enabling growth of new companies from India that are serving both global and local markets,” Chandrasekaran said.