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Emerging from the shadows
By   |   Thursday, 11 March 2010, 02:37 Hrs
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Further, the new engine to fire the next round of industry growth will be based on non-linear business models, innovation in Software as a Service (SaaS), platform-based services and BPO; on new verticals such as pharma and healthcare; and in relatively under-penetrated geographies.

"For the IT and BPO industry, the opportunity ahead is rare - it's a combination of cloud computing, mobile applications and domain specialisation. Almost 80 per cent of the new opportunity between 2010 and 2020 will come from new areas. I do not know of any other industry whose future holds such tremendous prospects," said Pramod Bhasin, Chairman of Nasscom and CEO of Genpact.

Cautious optimism

But in spite of the positive sentiments, some feel the industry may just be going over the top with its new-found optimism. Clouds of protectionism have been building up in the US for a while. Also, there have been rumblings about the possibility of a double dip recession. Already Europe is staring at a crisis over the rising debt Greece has built up. There are apprehensions that Spain and Portugal may be the next countries to be hit.

When asked if the crisis in the Eurozone was a matter of concern from an industry standpoint, Kris Gopalakrishnan, CEO of Infosys. said, "Yes it is. We will have to wait and watch."

According to outsourcing advisory firm TPI, the watchword for the industry should be 'cautious optimism'. "We are not completely out of the woods. Hopefully some of the issues will be managed. The world has overcome shocks of country-level defaults, in the past," Sid Pai, managing director at TPI India, said.

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