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IT industry is going to be double in 2012 in India.
A market-research report from IDC has revealed that Indian IT-ITeS industry will expand more than double of the size by 2012. The expansion will be led by the Indian domestic market.
The report confirms that the revenues will touch Rs.5.3 trillion in 2012 including export markets revenues. The revenue generated last year was Rs.2.46 trillion. The major contribution to this astronomic growth is by the domestic sector contributing Rs.2 trillion. The domestic sector with an annual growth rate of 18.4% has surpassed the overall industry growth of 16.5%.
The Indian domestic market has been majorly ignored by the industries that rely on the export market but the Indian expanding economy registering growth of 9% annually is spurring domestic market. The domestic market is adopting innovative technologies to stay competitive and attract more consumers.
The survey report expects overall industry to grow 20%, with Indian domestic market to expand by 22.4%, in 2008. The US economic slowdown and the highest ever 12% appreciation of rupee against dollar have made the big exporters like TCS or Wipro to look for other non-American geographies and domestic market.
Lalit Yadav, ITVoir Network |
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