Last month, Nasscom put out its estimates that the Indian IT-BPO exports revenues for the current fiscal will grow by 4 to 7 percent. Gone are the days when we saw the Indian IT industry growing at 30 per cent rate. The era of single digit growth has dawned on the Indian IT industry and it is here to stay. The slower growth rate would only mean that IT players would look for new areas of growth.

This is good news for India. Our own backyard—the domestic market—would see some action. Nasscom expects the domestic segment to grow by 15 to 18 percent. For long, multinationals like IBM have been more active in the domestic scene while our own Indian players have been looking at the U.S. and Europe. As a result multinationals have been grabbing some of the biggest contracts in India.
However, what we see around right now points to a new direction. Instead of we building technology for other nations, we will see ourselves being involved in building a new India through technology. We will witness proliferation of technology in more ways than we ever thought. In fact, Silicon Valley emerged by innovating technology products for the American society. We will see that now happening in India.

Along with multinationals and large Indian IT players, we will now have more entrepreneurs thinking of new ways by which technology can be leveraged to improve several systems in different segments across India. They will go and tap every door where technology perhaps hasn’t touched yet. Areas like telecom, banking, e-governance, healthcare, education, small and medium enterprises will see more technology usage that will eliminate inefficiencies in the system making the sector more productive, so the players can provide goods and services at much better prices to consumers.

One example of tech entrepreneurs looking at improving productivity of Indian organizations is Bangalore based MindLogicx, which has a clear mandate to bring in radical transformation in the higher education segment by use of technology. Its platform, which automates the examination process, has the potential to save nearly Rs. 1000 crores for 367 universities spread across India.
In this issue, we also feature the emerging Top 10 IT Service companies, which we believe are flexible to adapt to the changing market condition and take on the emerging opportunities.