Meet concludes laying stress on new business, pricing strategies
The curtains came down on the third edition of the India IT Summit here on Friday, with a call for a paradigm shift to innovative, value-added business strategies for sustainable growth of the Indian IT industry.
The summit, organised by the Confederation of Indian Industry (CII), stressed the need for the Indian IT industry to adopt new business and pricing strategies, service delivery models, and human resources and organisational capabilities to deal with shifting markets.
The changing economic geography increasingly influenced by China and India; political and social instabilities; and disruptive and transformational technologies would be the factors that would affect India and the world over the next decade.
Experts who participated in the four sessions of the conference discussed the challenges faced by the industry that is estimated to touch 3,00,000 million dollars by 2020.
Other issues like partnering for global economic revival, preparedness to meet challenges, and innovation as the way forward also figured.
Speakers threw up a spectrum of options ranging from collaboration with small innovators; development of solutions that are easily deployed across industries; and adoption of simplicity, agility, and innovation as new economies of scale. They identified cloud computing, social media, and devices and applications as drivers of non-linear growth in the sector.
Speaking at a plenary session on Friday, Pradeep Udhas, partner and Head, IT/BPO sector, KPMG, highlighted the need to create innovation centres and independent research and development (R&D) companies. C. Balagopal, managing director, Terumo Penpol, called for a strategy based on educating and training people and equipping them to innovate.
Minister for Labour Shibu Baby John, State Planning Board member G. Vijayaraghavan, IBS Group executive chairman and chairman of the summit V.K. Mathews, Dell India president Ganesh Lakshminarayanan, and UST Global Country Head and co-chairman of the summit Alexander Varghese were present at the valedictory session.