MUMBAI: For the first time ever, the growth in domestic IT demand is likely to outperform software exports this year, demonstrating high adoption of technology among local companies and governments. The Indian IT market is expected to grow 14.1% to touch Rs 1 lakh crore (about $20billion) in 2012-13, compared to 10.2% growth in exports at $75.8 billion.
“There is increased use of technology in the domestic market. The adoption of technologies like cloud is making a huge impact on government,” N Chandrasekaran, chairman of Nasscom, said at the IT industry body’s India Leadership Forum 2013 that began in Mumbai on Wednesday. The three-day flagship event has 1,400 delegates and 35 countries participating. For 2013-14, Nasscom has forecast revenues from the domestic market to grow at 13-15% to touch around Rs 1.2 lakh crore, higher than the software export growth projection of 12-14%.
Despite the tough economic environment, technology spending is expected to accelerate globally. “Efficiency through transformation of operations with technology remains a very important focus for global organizations. There is also a tremendous focus on adoption of digital, which are combinations of technologies like mobile, social media, analytics, cloud and big data,” Chandrasekaran said.
The theme for this year’s Leadership Forum is ‘Imagineering The Future: Disruptive Innovation for Sensible Growth’. “One could argue that at a time when we are not aware of what will happen in the next quarter, there’s not much point talking about the future. We are doing it because we believe that the future is of our making and the IT industry in India is fully geared to shaping its own future,” Som Mittal, president of Nasscom, said.
