India to rule IT by 2020

India to rule IT by 2020

By agencies   |   Thursday, 08 June 2006, 07:00 Hrs
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NEW DELHI: Assocham’s study on ‘India’s Cutting Edge in Services’ has predicted that India will raise from its 3 percent to capture 6 percent share of the global market in services and IT software by 2010.

Indians are expected to occupy leading positions in providing services to developed economies like E.U. and others by 2020 and recipient countries could utilize its surplus of 47 million professionals, the study said.

India is expected to have competitors only from Pakistan, Bangladesh, Indonesia and Egypt in the services and IT software exports industry and yet would be able to enjoy a competitive edge in providing knowledge-driven services like IT and R&D.

Assocham President, Anil K. Agarwal pointed out during the release of the study that with the present annual growth rate of 33 percent in It and ITeS service exports and increase in offshore penetration, the total exports would exceed $50 billion. The chamber predicted a 40 percent annual growth rate of IT and services.

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