IT-BPM Industry in India continues its growth momentum: NASSCOM
Mumbai: National Association of Software and Services Companies (NASSCOM), premier trade body and the chamber of commerce of the IT-Business Process Management industries in India, has released its analysis on the Indian IT-BPM sector’s outlook for the year FY 2013 based on industry performance for the first half year and global technology spending trends.
Amidst a volatile and challenging global economic environment, the India IT-BPM industry has sustained its growth trajectory during the year, a press release on the report said. For FY2013, a year marked by significantly varied trends, the industry is expected to meet the lower-end of its growth guidance and at least achieve a double-digit growth
This estimate is based on NASSCOM’s analysis of Indian listed companies, multinationals and GICs; and industry sectors – IT services, BPO, ER&D and Products.
Industry Export revenues – USD 75-77 billion in FY 2013
Growth drivers – RIM, BPO and Testing
Emerging verticals – retail, healthcare, utilities – 2x growth from mature verticals
Europe – fast growing; increased focus on outsourcing
Mr. N. Chandrasekaran, Chairman, NASSCOM and CEO & MD, TCS, said, “The industry performance for the past half-year has demonstrated the sector’s ability to innovate and deliver in enabling growth of customer businesses in challenging times. Changing business models, solutions around disruptive technologies and verticalized structures are enabling the industry to emerge as a strategic partner for their customers.”
Speaking at the press meet, Mr. Som Mittal, President, NASSCOM, said, “The IT-BPM industry continues to be a growth sector for India demonstrating double digit growth. The industry continues to reinvent itself – expanding the market, building new capabilities and a globalised model. Competitiveness, efficiency, service excellence and innovation are the key building blocks for the industry.”
Technology is increasingly becoming an integral part of every industry and in a multi-device connected world, new opportunities are being created for solutions on mobility, analytics, cloud and collaboration. These opportunities are also enabling growth of new companies from India that are serving both global and local markets.
The domestic market in the country industry is also increasing technology adoption within the government sector and the SMB market.