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NASSCOM views India as a fast growing digital economy

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Despite a volatile economy, inflation driven scenario and challenges in the global market, NASSCOM outlined a sustained growth trajectory for the Indian IT-BPM industry. The IT-BPM industry as per NASSCOM findings is expected to clock export revenues of US$ 86 billion with Y-o-Y growth rate of 13% and the industry revenues are expected to reach US$ 130 billion in FY15. In addition, the SMAC (social, mobility, analytics and cloud) opportunities are gradually reshaping the businesses, consumers and all traditional approaches, reviewed NASSCOM.

 “Technology itself has journeyed from hardware to enterprise software to digital solutions becoming an integral part of every industry. India is now becoming home to a new breed of startup companies focused on high-growth areas such as mobility, e-commerce and other vertical specific solutions – creating new markets and driving innovation,” said Krishnakumar Natarajan, Chairman NASSCOM. He also stated e-commerce, e-Governance and the banking sectors as prospective platforms for the growth of the IT industry.

According to NASSCOM the rapid technical transformations has altered and created dynamic client engagement, resulting in faster business transfiguration, delivery services and driving innovation, capabilities across distinct practices and operations. R Chandrashekhar, President, NASSCOM suggests that going forward the industry’s mantra is to ‘Collaborate, Connect, Co-Create’, thereby offering a specifically tailored model for each specialized domain in the IT-BPM sector.

The sector holds a prospective future outlook and will impact India through job creation, foreign exchange exports and position India as a global IT-BPM partner, shared R Chandrasekaran, Vice Chairman, NASSCOM. In addition, the 2020 vision of USD 300 billion, as per NASSCOM, will be driven by new business models, service lines and talent structures, wherein a gradual shift is witnessed from the traditional labour-based onsite-offshore model to cloud-based and off-premise solutions.

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