The current trend for the Indian IT exports is on the rise; according to Nasscom estimations, India's Information Technology Enabled Services (IT-ITeS) export rose from $75.8 billion in current fiscal from $68.7 billion in 2011-12 fiscal and the Indian IT and ITES exports have risen 23.4 percent at about Rs.4.11 lakh crore in the current fiscal from Rs.3.32 lakh crore in the 2011-12 fiscal.

However, ever since the global financial crisis of 2008, Indian IT industry has been unable to recreate its magic that mystified investors and customers alike and compounding the pressure is the fact that earlier this month, the parliament was informed that the fate of the Indian IT and ITES will depend on the global economic scenario and spending on Information Technology in North America and Europe.
"The growth of all the IT-ITES firms including mid-sized firms would depend on the global economic scenario and IT spending in the major markets of North America and Europe in 2013," says Milind Deora, the Minister of State for Communications and IT.

The National Policy on Information Technology (NPIT) 2012, the Government envisions to increase the IT industry revenues to $300 billion from $100 billion by 2020 through exports and domestic markets. Though the future looks promising for the Indian IT industry, there is an increasing need for this sector to become independent from its foreign counterparts in order to realize its $300 billion dream.