Indian IT industry growing at 12 to 14 pc: NASSCOM

NASSCOM Vice-Chairman B.V.R. Mohan Reddy on Thursday said Indian IT industry had reached half-way mark of its target to achieve a turnover of $300 billion by 2020 by registering an annual growth rate of 12 to 14 per cent.

He was speaking after inaugurating the national convention of Computer Society of India here on the theme `IT for India Tomorrow (IT4IT)'. The two-day conference will prepare a document on deliberations on Internet of Things, smart industry, mobility, big data, Digital India and incubation.

Mr. Reddy, who is Executive Chairman of Cyient Ltd, said that India, which made a late beginning in the early 1990s had achieved the remarkable feat of spreading its presence everywhere within a short span -- unparalleled anywhere in the world.

He said that India had made its mark post Y2K and dot.com phase by doing it differently. “Transformation of business differently through innovation has made the difference,” he stated.

Make in India campaign

Predicting a bright future for IT-enabled services, he said that IT portfolio was expanding continually. He said “India tomorrow is innovation plus technology” and lauded the call of Prime Minister Narendra Modi to promote out-of-the box ideas and ‘Make in India’ campaign.

Mr. Reddy said India had emerged as fourth largest startup hub after the United States, the United Kingdom and Israel, adding every year the industry was creating 3.5 lakh jobs.

He said that the industry had to strive for creating new opportunities leveraging Social, Mobile, Analytics and Clouds (SMAC) and called for producing job-ready engineers by improving the content.

IT has big role post bifurcation

RINL Chairman-cum-Managing Director P. Madhusudan said their company was trying to improve its performance by using IT in various ways. He said post-bifurcation IT would have a big role in Andhra Pradesh with the decision of the government to develop smart cities and towns.

ECIL CMD P. Sudhakar, RINL Director (Projects) and CSI Vizag chairman P.K. Mohapatra, CSI national chairman H.R. Mohan, organising committee vice-chairman KVSS Rajeswara Rao, convener Y. Madhusudana Rao, AU College of Engineering Vice-Principal P.S. Avadhani and others spoke.