In the fiscal year 2005-06 Indian IT Software and Services had a growth of 31.4% and had aggregate revenue of $29.6 billion. Indian software export increased by 33% during this time. Good thing is that slowly but steadily, a local market for Indian software industry is emerging. The National Association of Software and Service Companies (NASSCOM) has announced these figures today. According to NASSCOM, the trend of growth will remain intact in this fiscal year too. This is not the end of the road and instead it is perhaps just the beginning of a good time for Indian software industry. Until now, Indian software companies have mainly worked on small contracts and especially on doing a part of a big project. NASSCOM believes that this scenario is going to change in the next few years and large contracts worth a combined $100 billion are going to come to India.
You can read the report of NASSCOM in its website from this link. I went through the report and I am mainly happy for the fact that more people are getting employment in the software and IT industry in India. This is as much important as increasing export earning.
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Good thing for India. Based on what I've heard India is like the leading Asian country in the IT industry. Am I right? Here in the Philippines, Information Technology has also been the focus of some developments in the metropolitan setting. We also wanted to join the race in the IT sector of Asia.
Posted by: nepspeed82 | June 1, 2006 1:11 PM | Permalink to Comment