With US$ 40 billion in revenues, the Indian information technology sector continues to be one of the sunshine sectors of the Indian economy. With a growth figure of 30.7 per cent in 2006-07, the sector has left its global counterpart, which grew at 10 per cent, way behind. The National Association of Software Services Companies (NASSCOM) estimates revenues of US$ 49-50 billion in 2007-08 at a growth rate of 24-27 per cent.
India has emerged as the fastest growing IT hub in the world, its growth dominated by IT software and services such as Custom Application Development and Maintenance (CADM), System Integration, IT Consulting, Application Management, Infrastructure Management Services, Software testing, Service-oriented architecture and Web services.
Even in the event of a falling dollar and a strengthened rupee, India is the undisputed leader in offshore services, accounting for 65-70 per cent of the global offshoring pie. It tops the list of 30 countries on criteria such as language, Government support, labour pool, infrastructure, educational system, cost, political and economic environment, cultural compatibility, global and legal maturity, and data and intellectual property security and privacy, says Gartner.
In 2006-07, software and services exports grew by 33 per cent to register a revenue of US$ 31.4 billion, whereas the domestic segment grew by 23 per cent to US$ 8.2 billion. Within exports, IT services touched US$ 18 billion, a growth of 35.5 per cent. The country's IT exports have, in fact, come quite far, starting from a few million dollars in the early 90s. The Government expects the exports turnover to touch US$ 80 billion by 2011, growing at an annual rate of 30 pc per annum.
India has emerged as the fastest growing IT hub in the world, its growth dominated by IT software and services such as Custom Application Development and Maintenance (CADM), System Integration, IT Consulting, Application Management, Infrastructure Management Services, Software testing, Service-oriented architecture and Web services.
Even in the event of a falling dollar and a strengthened rupee, India is the undisputed leader in offshore services, accounting for 65-70 per cent of the global offshoring pie. It tops the list of 30 countries on criteria such as language, Government support, labour pool, infrastructure, educational system, cost, political and economic environment, cultural compatibility, global and legal maturity, and data and intellectual property security and privacy, says Gartner.
In 2006-07, software and services exports grew by 33 per cent to register a revenue of US$ 31.4 billion, whereas the domestic segment grew by 23 per cent to US$ 8.2 billion. Within exports, IT services touched US$ 18 billion, a growth of 35.5 per cent. The country's IT exports have, in fact, come quite far, starting from a few million dollars in the early 90s. The Government expects the exports turnover to touch US$ 80 billion by 2011, growing at an annual rate of 30 pc per annum.
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