$200 B software exports : I can do it
Date: Wednesday , March 01, 2006
The Indian software story seems to be headed in the right direction. In fiscal 04-05 the Indian IT industry was worth $17 billion and keeping with its double-digit growth, it will cross the $36 billion mark this fiscal.
Such impressive growth has confirmed the industry belief that the Indian IT industry will be worth a whopping $60 billion by 2010.
At the annual Nasscom summit 2006, held at Mumbai, India, chief executive of India’s biggest IT services exporter Tata Consultancy Services and Nasscom chairman S. Ramadorai said, “The Indian IT-ITeS sector continues to chart double-digit growth and is expected to exceed $36 billion in annual revenue in FY06. Out of this, software and services exports are estimated to grow by 32 percent, to reach $23.4 billion in FY06. Indian IT-ITES is well on track to achieve the targets that the industry aspires to achieve by the end of the decade- $60 billion 2010.”
No lofty ambitions. Indeed the growth is happening. However President Dr.APJ Abdul Kalam who was the chief guest at the event said the country should aim at having a $200 billion IT industry by 2010.
“Aim high, so I want the market to reach by 2010 a volume of $200 billion,” Kalam remarked. In a short Q&A-session that soon followed, a delegate asked the president how such a growth could be achieved? The President replied that there were three answers: “First: I can do it!” He paused. “And second: I can do it and third: I can do it!”
Adding to the President’s ‘I can do it’ attitude, Ramadorai said the growth is achievable but India has be innovative and must have a master plan for R&D.
Wipro chairman Azim H. Premji said on innovation, “There is no doubt that a lack on innovative thinking is lethal for any company. As entrepreneurs do, he made a clear distinction about creativity as “thinking new things” towards innovation as “doing things differently by applying thought” which includes design and implementation.
Innovation extends by far beyond coming up with a great new cutting-edge disruptive ha-hoo product like Skype. Innovation can happen and contribute incrementally in the areas of delivery, process, business model, supply chain and something which gets underestimated: organizational structure. Innovation won’t come by itself; there is the urge to create a culture of innovation in an environment of trust and without fear.
Great agenda on outsourcing, offshoring, globalization and innovation. Where does one get people like India’s President Dr. APJ Abdul Kalam, New York Times columnist Thomas Friedman, Azim Premji, Vivek Paul from Texas Pacific Group, Nandan Nilekani from Infosys, Promod Haque from Norwest Venture Partners at one place, giving keynotes.