2010: A revival year for Indian IT industry

Updated on: Monday, December 27, 2010

The year 2010 marked a period of revival for the USD 60 billion Indian IT industry, with the global economy assuming some semblance of normalcy after a period of prolonged turbulence and demand for software technology products on the rise again.
According to industry body Nasscom, the Indian IT-BPO industry is well-poised to reach the USD 70 billion-mark by the end of the current fiscal.

The year started on a positive note, with software majors like Tata Consultancy Services (TCS) and Infosys posting good profits, contrary to early indications of a drop in revenues.

As the year progressed, core markets like the US -- along with emerging vertical and geographic segments -- witnessed a significant pick-up in demand, resulting in a 5.5 per cent jump in overall industry revenue.

With the government projected to spend Rs 25,000 crore this fiscal on information technology initiatives, it has emerged as one of the biggest growth verticals for the
domestic IT-BPO sector, Nasscom said.

As a result, over the next two years, the domestic IT-BPO services segment is expected to grow from USD 12.8 billion in FY'2009 to USD 16.7 billion in FY'2011, translating into a CAGR of 14 per cent, it added.

2010: A revival year for Indian IT industry

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