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Indian IT-ITeS Industry-
A Success Saga
The liberalization
of Indian economic policy, de-regulation of key sectors and progressive moves towards
further integrating India with the global economy has been a key driver of
increased IT adoption in the country
2012 will be remembered as a landmark year in the history of Indian
Information Technology- Information Technology Enabled Services [IT-ITeS]
industry, as aggregate industrial revenue crossed USD 100 billion dollars with
a y-o-y growth of 14 percent. With USD 69 billion, exports [excluding hardware]
contributing the lion’s share of 78 percent, accounted for the growth of +16
percent over 2011. The domestic revenue [including hardware] is expected to
account for USD 32 billion, a growth of +9 percent over 2011. There is no doubt
that IT-ITeS industry has emerged as one of the most dynamic sectors in India’s
economic boom and is responsible for the global recognition of India as a “soft”
power. The consistent growth of the IT segment has created phenomenal wealth,
employment, exports and a significantly large reservoir of highly competent
technocrats and knowledge workers.
Majority of the Fortune 500 and Global 2000 corporations are
sourcing IT/ITeS from India. Further most of Capability Maturity Model
(SEI-CMM) Level 5 firms are based in India. On the plus side, the Indian
IT-ITeS industry has also moved up the value chain of global perception. India
is delivering several mission critical services to clients globally. Indian
companies have set up delivery centres across the world and are actually
providing services from different regions. 340 delivery centres in 184
cities across 48 countries in 2007 have now increased to over 560 centres
in over 200 cities across 70 countries by 2012. India is fundamentally advantaged
and uniquely positioned to sustain its global leadership position, grow its
offshore IT-ITeS industries at an annual rate of 13-14 percent, sustain nearly
10 million direct jobs and generate export revenues of about USD 175 billion
by 2020. This represents an opportunity capable of catapulting India into a
higher growth orbit.
