An increase in global technology spending and opportunities created through adoption of disruptive technologies are expected to propel growth of Indian IT exports in 2013-14 and National Association of Software and Services Companies (Nasscom), the premier trade body for the Indian IT-BPM (Information Technology-Business Process Management) industry, expects the industry to clock export revenues of $84-87 billion, maintaining growth at 12-14 per cent.
In its strategic review 2013, Nasscom said domestic revenues would grow at 13-15 per cent, and to reach Rs.118,000-120,000 crore in 2013-14.
In spite of the challenges in the global market, Indian IT-BPM industry sustained its growth trajectory and was expected to clock export revenues of $75.8 billion with a growth of 10.2 per cent in 2012-13, Nasscom said in a statement. The domestic market also witnessed a year-on-year growth of 14.1 per cent, taking domestic revenues to Rs.104,700 crore in 2012-13.
The Indian IT-BPM sector continues to be one of the largest employers in the country directly employing nearly three million professionals, adding over 180,000 employees in 2012-13.
“The year 2012-13 can be characterised as the year of rapid transition and transformation leading the industry into expanding into newer verticals and geographies, attracting new customer segments, and transforming from technology partners to strategic business partners,” it said.
“The Indian IT-BPM industry has demonstrated resilience and agility in the past year. Technology has today become an integral enabler for growth across all sectors and the industry is continuously evolving and innovating to emerge as a strategic partner to its customers,” N. Chandrasekaran, Chairman, Nasscom, said in a statement adding, “the thrust is IP-led solutions served over multiple platforms that has the customer at the centre of every module, and is transformative in nature.”
According to Nasscom, some of the key growth drivers expected to open new opportunities for the industry are smart computing, ‘anything’-as-a-service, technology enablement in emerging verticals and the SMB market.