IT industry wont be demand constrained: Som Mittal

KOLKATA, W.BENGAL: NASSCOM President Som Mittal said that the potential for IT-BPO industry is tremendous and the industry will not be demand constrained, despite the short-term challenges.

While addressing the NASSCOM CEO summit here today, Mittal said that the opportunity ahead is likely to increase by three times and India can aggregate revenues of US$225 billion by 2020.

“However, 80 per cent of incremental growth will be driven by opportunities outside the current core markets, verticals and customer segments and will require industry to build different business models and the country to invest more in education and infrastructure,” he said.

The second annual NASSCOM CEO Summit 2009 is attended by industry captains converging to discuss, debate and strategize on the next phase of the industry’s evolution, said a press release.

The CEO Summit will address issues of both the short-term 2010 outlook as well as the long-term potential of the industry as outlined by the NASSCOM Perspective 2020 report done in collaboration with McKinsey & Co.

Though the industry in the last one year has witnessed slowdown in growth as a result of the global economic downturn, NASSCOM estimates for the IT- BPO industry for 2009-10 include export growth at 4-7 per cent and domestic market growing at 15-18 per cent.

While uncertainty prevails, the sentiment now being reflected is that the worst of the crisis is over, said NASSCOM.

The industry in this period has demonstrated maturity, resilience and enhanced efficiency. Of specific interest was the growth in domestic market, a three-fold growth in emerging verticals and geographies, enhanced globalization of the industry and over 90 percent repeat business from clients in this tough environment.

Speaking about the potential of Bengal, Mittal said, “West Bengal has a huge talent pool which can play a major role in sustaining the growth of Indian IT-BPO industry. Building a viable ecosystem is an imperative for the growth of the sector in the region.”

He said focus on infrastructure development, enhancing the employability and an enabling policy environment should be the key priorities for the state government. Mittal also said NASSCOM will continue to strengthen its initiatives in the eastern region.

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