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India: IT market to grow by 27% in 2008; Growth Phase 2.0 to leverage IT Infrastructure

Me and my wife just watched the Movie "OutSourced" last night (NYtimes coverage here). My sixth sense was telling me something. When I see these projections about growth, which could very much be repeatable simply because the folks are getting smarter out there, I know that they will be able to leverage the State of the art infrastructure in a short span of time.

IT research firm IDC (India) Limited has predicted that the domestic IT/ITeS market revenue will touch Rs. 1,10,000 crore in 2008 while sustaining the growth of 27 per cent recorded in 2007.

This would result into the market growing at 24 per cent in 2008 over 2007. The year 2008 is set to mark the beginning of Growth Phase 2.0 to be characterised by opportunities arising out of the leveraging of the IT infrastructure built up so far.

IDC India revealed this as part of its annual predictions for the domestic IT market for 2008. "By posting a substantial jump in the domestic IT/ITeS market since 2002, the industry is now onto a new growth trajectory. IDC India expects a significant transition in the Indian IT market as part of the Growth Phase 2.0," said Kapil Dev Singh, country manager, IDC India.

Growth Phase 2.0

"Growth Phase 2.0 will leverage the IT infrastructure and technical capability built up so far to offer new-age services to the Indian enterprises and consumers," he added.

The India domestic IT market will transform significantly with the existing IT infrastructure evolving both in technology terms and depth of penetration. Higher demand for sophisticated enterprise and consumer services will drive this trend as the India domestic IT market 'comes of age'.

Not only are key market segments growing at a healthy pace, the evolution of the market is visible in the scale and scope of enterprise IT infrastructure deployment across all verticals as well as emerging verticals, including the government.

Here's the Chennai Online article


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