Indian IT/ITeS Sector to Touch $110 Billion
The Indian IT/ITeS industry is expected to grow at a CAGR of 13.9% and reach Rs. 534,479 crore (over $ 110 billion) in 2013, reveals IT advisory firm IDC.
In 2009, the overall India IT/ ITeS industry is expected to grow at10.8% and touch Rs. 3,09,573 crore (over $64 billion). The domestic market is estimated to grow at 10.2%, to touch Rs.1,09,406 crore (over $ 22 billion) and at the same time, exports are expected togrow at 11.2% to cross Rs.2,00,000 crore.
"Though there are certain signs of a revival happening in the domestic arena, the spending may not begin to increase just yet. IT spending behaviour would remain conservative throughout 2009 due to uncertainty in the economic environment," said Kapil Dev Singh, country manager (India) at IDC."The hardware market will remain under pressure through the year, while the software and IT services markets will also be affected, though to a comparatively lesser extent," said Singh.
The domestic IT and ITeS market growth projection for the period 2008-13 is expected to moderate to 15.8%, as against the average annual growth of 25% recorded during 2003-08. This signals the onset of a new phase of growth, and this phase will see IT vendors helping enterprises design and deliver ‘new age’ services to their customers by leveraging the existing IT infrastructure.
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