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News >> Technology >>
IT Industry crosses $28 B
By agencies
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Monday, 18 July 2005, 19:30 IST
NEW DELHI: The IT industry grew 24 percent in 2003-04, in 2004-05 it beat expectations and zoomed to a 33 percent growth. The domestic market also showed strong fundamentals and moved up to $9.9 billion from $7.8 billion, a growth of 27 percent. The growth was, however, led by the industry darling the exports market that grew by 36 percent to touch the $28.5 billion mark.
Within the domestic market, growth was led by the services segment, which grew by 37 percent, compared to an overall hardware growth at 18 percent.
The Tatas made up the biggest group of IT businesses, according to a survey, with a total turnover from IT of $269 million (including, at $2.21 billion, TCS, Indias biggest IT Company).
BPO exports continued to be a rapid growth area, expanding 38 percent to touch $5.15 billion. And hardware exports grew marginally by 5 percent, as hardware export major Moser Baer and Celetronix saw a dip in their revenues.
The year also saw the revival of the training industry, which finally showed positive growth after three years of negative growth.
In the imaging and printing business, the big story was MFDs, or the multi-function devices. The segment grew by 74 percent in units terms and 22 percent in value terms, and this trend is expected to continue driving the printing and imaging business in the country.
As usual, the software and services exports industries were the biggest consumers of manpower. They hired in a big way, especially in the less-than-two-years experience category. Overall, HR numbers, including BPO, in the industry grew 45 percent to 884,000.