Nasscom: Emerging technologies, new business models and markets driving growth
Geetanjali Minhas | February 12, 2013
Presenting an optimistic outlook for FY2014, Nasscom has predicted an optimistic view for the Indian IT–BPM industry. The industry body expects export revenues of $84-87 billion at 12-14% growth rate and a corresponding domestic revenue growth at 13-15% earning Rs 1,180-1,200 billion.
According to Nasscom, disruptive technologies like social media, mobility, analytics and cloud technologies and increase in global technology spending and opportunities will contribute to growth in FY 2014. Smart computing, ‘anything’ as a service, technology enablement in emerging verticals and SMB market will open new opportunities in the market.
“We look forward to 2013-14 to be a positive year from the industry perspective. We have a good eco-system and our certifications are very strong. Our secure IT environment and Acts allow good security and our efficiency is 60-70 percent greater than our global companions. We would now like to partner with the government,” Nasscom president Som Mittal said here on Tuesday ahead of its 21st annual three-day India leadership forum.
In its strategic review of FY 2013, it has said that the Indian IT-BPM industry is expected to clock export revenues of $75.8 billion with a Y-o-Y growth rate of 10.2 percent. The domestic market with a YoY growth rate of 14.1 percent also earned revenues of Rs 1,047 billion. With the IT-BPM sector employing nearly 3 million professionals it is adding over 1,80,000 employees. Rapid transition and transformation has led the industry into newer verticals and geographies bringing in new customer segments and transforming from technology to strategic business partners.
“IP-led solutions served over multiple platforms that has customer at the centre of every module and is transformative in nature with tremendous focus on adoption of digitals will be the focus and member companies of Nasscom have a lot of opportunities,” said N Chandrasekaran, chairman, Nasscom.
“India is the only country offering different segments across industry, i.e., IT services, BPM, engineering and R&D, internet and mobility and software products. While BPM is $20 billion sector, engineering crossed $10 billion. Software products, internet and mobility are emerging opportunities. Creating a strong and robust eco-system for startups, innovation clusters and centers of excellence (CoE) will encourage entrepreneurship and build next generation of global companies from India.”
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