‘IT’s InsTantly InTeresting!

IIPM MANAGEMENT INSTITUTE

Consistent stellar performances by the Indian information technology giants like Infosys, TCS, Wipro, et al have made India the leading IT consulting nation of the world

At the turn of the last century, we witnessed the downfall of IT companies internationally. While everyone had written them off, Indian IT companies had the vision and belief to bounce back; and what a comeback it has been! Over the last 5 years, the contribution of IT to GDP has grown from 1.4% to a strong 4.8%; posting a CAGR of 28%. Also, in the period 1997-2006, the revenues of IT firms have increased ten-folds from $4.8 billion to $47.8 billion!

But what is the reason behind this stellar growth of the IT sector? The answers are in plenty. A pool of cheap, English speaking IT professionals; IT companies attaining international certifications such as ISO, CMM and Six Sigma; global outsourcing being redirected to India; and cross-border mergers & acquisitions – all these factors have contributed immensely to the IT growth. Interestingly, India’s IT spectacle doesn’t end here. IT & ITeS contributed to the bulk of private equity investments in the year 2006, aggregating $1.47 billion. Simultaneously, exports of computer soft ware and services has increased to $24.27 billion in 2006-07, as against $16.9 billion in 2005-06, while ITeS exports during the same period increased to $9.4 billion, compared to $6.8 billion in the previous year. Even the traditionally weak domestic markets generated revenues worth $6.7 billion.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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