The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

December - 2009 - issue > India Road Ahead

Brand India: The shining star in the world of business

Krishnakumar Natarajan
Tuesday, December 1, 2009
Krishnakumar Natarajan
The Indian IT Industry has had unprecedented success in the last two decades. The Industry is recognised today as a World leader and one of unique characteristics of the Industry has been its ability to reinvent itself and build on its success. The Industry has also had a very collaborative mindset and the role of Industry associations like NASSCOM is a lesson in Industry building at a Global level. Some of the success achieved which are worth highlighting are as follows.

The Indian IT services Industry has grown from USD2B in 1998 to USD 52B in 2008 (including USD 12B in domestic)- Source NASSCOM McKinsey Perspective 2020 Report.

The Industry’s contribution to GDP has quadrupled from 1% to 4% from 1998. More than that it has helped increase the foreign exchange reserves of India and has helped create about 2m direct jobs and almost 8m indirect jobs resulting in 10m job creation in a economy where jobs are an important need.

The Industry has become critical to the Global customers it serves. 75% of Fortune 500 companies leverage the Indian IT Industry and it is estimated that in 2008 alone the global savings for customers amounted to USD 20 to 25Billion ( source NASSCOM McKinney report).

The Industry has grown beyond traditional services. New services like R&D outsourcing, Independent Testing, Remote Infrastructure Management have contributed to more than half of the Industry incremental growth. Success in new service lines indicates the strength of the Industry to reinvent itself.

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