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Indian IT to grow at 22 percent in 07: Study
By siliconindia
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Wednesday, 10 January 2007, 18:30 IST
IT industry analyst firm, IDC Limited, in its report on the India IT industry has stated that contrary to expectations, 2007 will be a year of build-outs rather than rollouts for 3G and WiMAX services. Around 85 million new mobile subscribers are expected to be added in 2007, thus beating China for the first time. This spurt in subscriber base would call for a huge network expansion drive, and is expected to result in investments of around $10 billion or more.
In its report, IDC Limited predicted a year on year growth of 21.5 per cent for the Indian IT industry. The year will see intense 'hyper disruption' in the IT industry, with major structural changes along different industry vectors accelerating each other's growth. "Small businesses will become big, software will be translated into services and vice-versa, IT players will be more 'consumer-ish', and consumer players will be more business- minded" the report states.
Kapil Dev Singh, country manager, IDC (India) Limited said, "Deep shifts in the global market place will surely have implications on the Indian market. Coupled with high speed growth, the shifts will pose unique challenges in managing the twin play of IT going deeper into already penetrated market segments and simultaneously exploring newer segments to sustain growth."
He added that banks, financial services institutions (FSI), telecom, manufacturing, government, resource, education, and other industries would heavily invest into IT.
Incidentally, India was the fastest-growing country by IT spending in 2006 (22.4 per cent). The report further states that 2007 will witness Indian enterprises graduate to the second level of dynamic IT infrastructure that can adapt itself easily to the changing business scenario. Key technology components to attain this state are virtualization, SOA and application integration.