Domestic and foreign demand in IT to rise

Tuesday, 30 March 2010, 03:04 Hrs   |    3 Comments
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Bangalore: Indian software companies have done well in recession as compared to the North American market which caters to half of its revenues. Markets abroad are likely to show far greater vigour than these forecasts anticipate. And the domestic market for IT products and services would appear to be on the verge of a quantum leap to a new order of magnitude, according to Economic Times.

U.S.-based companies are expected to outsource more work to Indian firms to cut costs and improve margins as their incomes struggle to rise. Indian companies should therefore adopt new business models to offer business transformation opportunities through integrated consulting, business intelligence and knowledge services. Innovation should be their watchword.

Domestic demand for IT services will also look up, with large e-governance initiatives by the Centre and state governments: the unique identity card program, computerisation of tax departments and the central record keeping infrastructure for the new pension scheme.

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