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Vast potential in IT industry

INDIA'S information technology industry has played a key role in putting India on the global map. Thanks to the success of the IT industry, India is now a power to reckon with.

According to the annual 2009-10 report by the Department of Information Technology (DIT), the IT-BPO (business process outsourcing) industry is expected to garner a revenue aggregate of US$73.1 billion in 2009-10 as compared to US$69.4 billion in 2008-09, growing at a rate of over 5 percent. The report predicts that the Indian IT-BPO revenues may reach US$225 billion in 2020.

According to DIT, Indian software and services exports are expected to reach US$49.7 billion in 2009-10 compared to US$47.1 billion in 2008-09, an increase of 5.5 percent. Further, the IT services exports are estimated to grow from US$25.8 billion in 2008-09 to US$27.3 billion in 2009-10, growing by 5.8 percent.

Moreover, according to a study by Springboard Research published in February 2010, India's IT market is expected to grow at around 15.5 percent in 2010, on the back of growing investor confidence and favorable government initiatives.

The data center services market is forecast to grow at a compound annual growth rate of 22.7 percent between 2009 and 2011, to touch nearly US$2.2 billion by the end of 2011, according to research firm IDC India's report published in March 2010. The IDC India report stated that the overall India data center services market in 2009 was estimated at US$1.39 billion.

According to the Internet and Mobile Association of India (IAMAI) and market research firm IMRB, the number of Internet users in India reached 71 million in 2009. The number of active users increased to 52 million in September 2009 from 42 million in September 2008, a growth of 19 percent year on year.

According to IDC India, during January-March 2010, total PC sales reached 2,240,000 units, registering a year-on-year increase of 33 percent. Desktop PC sales increased by 18 percent during January-March 2010, over the corresponding period last year to reach 1,436,000 units. Sales of notebook computers rose by 72 percent year on year, clocking 803,000 shipments.

India is a preferred destination for companies looking to offshore their IT and back-office functions. It also retains its low-cost advantage and is a financially attractive location when viewed in combination with the business environment it offers and the availability of skilled people.

(Courtesy of IBEF)


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