INDUSTRY REVIEW OF THE INDIAN IT SECTOR

Submitted
to
Prof Dr. Ganti Subrahmanyam
and
Assist Prof Dr.B.Padma Narayan

By
SAILESH KUMAR
MBA (IB)
Section ±A
1226110133

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ABSTRACT

Globalization has a profound impact in shaping the Information Technology (IT) industry
over the years with India capturing a sizeable chunk of the global market for technology
sourcing and business services. Over the years the growth drivers for this sector have been
the verticals of manufacturing, telecom, insurance, banking, finance and of late the fledgling
retail revolution. The report represent the bright and the competitive prospective of IT/ITES
sector where new vertical emerging and how the companies are able to adapt to the changing
scenario. The initiative provided by the government to help boast the export where it
contributes a major part in the country GDP and development. India turning out to be a major
destination point for outsourcing due to availability of technical professional, the cost of
operating is less. The report focuses on the quality standard where the India has edge over
other nation and are able to give stiff competition. The revenue generated by terms of its
service provided domestically and globally.

INTRODUCTION

Information Technology is the application of computers and software to control information.

It is also referred to as Management Information Services .History has witnessed several path
breaking scientific achievements that have benefited mankind immensely. But it can be said
without any ambiguity the Information Technology revolution has made the greatest impact
in this century. It has influenced greatly human progress in communications, trade,
manufacturing, services, culture, entertainment, education, research, national defense and
global security. The Information Technology sector has made the world a global village,
shrinking national boundaries and integrating cultures. The Information Technology industry
has enabled India to accelerate in the path of growth. Globally the IT has revolutionized the
activity towards atomization. There are many top notch company delivering quality products.
There cater the services to all verticals from manufacturing, retail, banking and financial
institution The Indian Information Technology Industry is without any doubt the
acknowledged world leader. The availability of technical human capital, proficiency in
English, cost competitiveness, quality training institutes and favorable reforms has led to
India being a most sought after destination for global companies to outsource their business.

The IT sector can be broadly classified into four categories -

å IT Enabled Services ± Uses telecom networks or the internet.

å Engineering Services ± It includes industrial, mechanical, electronic design and
validation testing.
å ITES-BPO Services ± It includes processes that may be IT-enabled, do not
necessitate on-shore presence and are hence, offshore-able.
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å E Business ± It includes buying and selling, service customer where business is

carried on the internet.
å Third-party units - BPO service vendors that are mostly independently owned units
(i.e. no single client has a controlling stake in the vendor entity). Third-party vendors
also include a small section of MNC-owned independent third-party vendors, such as
Convergys, SITEL, Vertex and Sykes, having a significant part of their global
operations based out of India.

IT Services

IT services can be further classified as Information services outsourcing, software support

and installation, hardware support and installation, it training and education. Indian software
product segment is estimated to grow by 14 per cent to reach US$ 3.46 billion, fueled by
replacement of in-house software applications to standardized products from large
organizations and innovative start-ups.

ITES Services

The ITES BPO services are a branch of Information Technology. Some of the fields within
ITES are Customer Relationship Management (CRM), Back Office Operations, Accounting,
HR services, market Research and consultancy services.

E Commerce

E commerce is a form of business where buyers and sellers interact through the internet
rather than any physical exchange or direct contact. E commerce can be further classifieds
into:

X Production Processes: It would include procurement, ordering and replenishment of

stocks, processing of payments, production control processes.
X Customer Focused Processes: It would include promotional and marketing efforts,
selling over the internet, processing of purchase orders and payments.
X Internal Management Processes: It would include employee services, training, video
conferencing and recruiting.

INFORMATION TECHNOLOGY SECTOR IN INDIA

The Information Technology (IT) Sector has been one of the hotshots of Indian economy.
Remarkable transformation and growth of the economy has created opportunities both in
exporting software and services and in the domestic market. Growth in Indian information
technology in the world market is primarily dominated by IT software and services,
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including system integration, IT consulting, application management, custom applications,

infrastructure management, software testing and web development. Competitive factors such
as skilled workers, adequate telecommunication networks, and an improving policy and
regulatory environment have enabled both domestic and foreign firms to rapidly expand in
the internationally competitive IT services sector. The Indian information technology (IT)
industry has played a key role in putting India on the global map and is now envisioned to
become a US$ 225 billion industry by 2020. Over the course of its history, the Indian IT
industry has been through a number of phases starting with extremely low value-add body-
shopping work to doing high-end consulting today. Currently, the industry is characterized
by the presence of a few very large companies with a couple of billion dollars in turnover,
each employing in excess of 50,000 people. The majority of these companies provide
outsourced services to their overseas clients. These services include maintenance of existing
software, development of new software, remote infrastructure management, product design
and development and increasing amounts of IT and business consulting. The Indian IT sector
has been the subject of many studies that have attempted to identify some of the several
factors responsible for the incredible growth of this sector.

Some of the key factors that many of these studies have listed out are:

å Demographic factors. India is possesses a demographic advantage over other nations

by virtue of its
X very large pool of English speakers,
X large pool of scientists and engineers,
X young population entering the job market,
X cost benefits.
å Government Policy Reforms Despite many assertions to the contrary, the sector has
received substantial help from the government both by easing-up on regulations as
well as other measures (tax-exemptions) which have gone a long way.
å Economic Liberalization The sector has also benefited from the larger opening up of
the Indian economy, for example, de-regulation of the telecom industry, easing of
FDI norms, reduction of duties on computers and electronic devices etc.

The Indian IT and ITES Sector has grown considerably over the last decade to contribute
over 6% of the country¶s GDP. Though the United States and United Kingdom still remains
the dominant market, accounting for about 79%, for the Indian IT-BPO industry, the
Continental Europe and Asian markets are catching up as they witness higher growth in
demand. In contrast, the IT hardware segment has lagged and has focused very largely on the
domestic market, which remains heavily dependent on imports of components and finished
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IT goods. Government is actively pursuing measures to stimulate the growth of Electronics

Hardware Manufacturing Industry in the country.

REVENUE

The Indian Software & services industry has grown at a remarkable pace since 2001-02. The
overall Indian Software & Services industry revenue is estimated to have grown from US$
10.2 billion in 2001-02 to reach US $ 58.7 billion in 2008-09- translating to a CAGR of
about 26.9 per cent. Despite the severe global recession, the industry grew at modest rate of
12.9 % in 2008-09. Among the verticals serviced by India¶s IT-ITES-BPO industry those
that account for the largest share of revenue are banking, financial services and
insurance(BFSI-41%), Hi-Tech/Telecom(20%), manufacturing(17%), retail(8%), with
smaller contributions coming from media, publishing and entertainment, construction and
utilities, healthcare and airlines and transportation. Important industry verticals being
serviced by the BPO segment are insurance, retail banking, travel and hospitality, auto
manufacturing, telecom and pharmaceuticals. Horizontals such as Customer Interaction and
Support (CIS), Finance and Accounting (F&A) and Human Resource Management (HRM)
are important areas in the BPO segment.

Year/ Item 2001- 02 2002- 03 2003- 04 2004- 05 2005- 06 2006- 07 2007- 08 2008- 09 CAGR

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(Source: Nasscom)

According to NASSCOM, there is US$ 9 billion business opportunity in e-governance in

India. IT software and services sector (excluding hardware) accounting for US$ 76.1 billion
of revenues. Over the past decade, the Indian IT-BPO sector has become the country¶s
premier growth engine, crossing significant milestones in terms of revenue growth,
employment generation and value creation, in addition to becoming the global brand
ambassador for India. The sector is estimated to aggregate revenues of US$ 88.1 billion in
FY2011. The report estimates export revenues to gross US$ 59 billion in FY2011 and
contribute 26 per cent as its share in total Indian exports (merchandise plus services),
employing around 2 million employees.
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EXPORTS

Exports continue to dominate the revenues earned by the Indian Software & Services
Industry. The export intensity (the share of IT-ITeS Exports to total IT-ITeS Revenue) of
Indian Software & Services Industry has grown from 74.5% in 2001-02 to 78.9% in 2008-09.
Total Software & Services Exports are estimated to have grown from US $ 7.6 billion to US
$ 46.3 billion in 2008-09, a CAGR of 28.6%.

The share of ITES-BPO exports has nearly doubled during this period. The total ITeS -BPO
exports is estimated to have increased from US $ 1.5 billion in 2001-02 to US $ 12.7 billion
in 2008-09, a CAGR of about 39.2 per cent. BPO now accounts for about 27 per cent of total
exports. The Indian BPO sector has not only added scale in the last nine years, but has also
matured significantly in terms of scope of service offerings, buyer segments served and
service delivery models. Apart from achieving maturity in the horizontal segment, providers
are increasingly developing vertical/domain specialization to capture greater value.

Year/ Item 2001- 02 2002- 03 2003- 04 2004- 05 2005- 06 2006- 07 2007- 08 2008- 09 CAGR

IT Service 5.8 5.5 7.3 10.0 13.3 17.8 23.1 26.5 23.2

ITeS-BPO 1.5 2.5 3.1 4.6 6.3 8.4 10.9 12.7 39.2

Software 0.3 1.5 2.5 3.1 4.0 4.9 6.4 7.1 48.5
Products,
Engineering
Services

Total IT-ITeS 7.6 9.5 12.9 17.7 23.6 31.1 40.4 46.3 28.6

Source: Nasscom.

Within exports, IT Services segment was the fastest growing segment, growing by 22.7 per
cent over FY2010, and aggregating export revenues of US$ 33.5 billion, accounting for 57
per cent of total exports.

DOMESTIC MARKET

The impact of IT is not restricted to its passive contribution to GDP alone; IT is a

transformational agent for national economic development and should be treated as
infrastructure just like highways, roads, water, electricity etc. The domestic IT market in
India is not homogenous and instead represents an aggregation of discrete and heterogeneous
segments. The domestic IT market has been overshadowed by the strong export performance
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of the Indian IT industry recent years have confirmed the emergence and potential of the
domestic IT market. Though the IT-BPO sector is export driven, the domestic market is also
significant. The revenue from the domestic Software & Services market is estimated to have
grown from US $ 2.6 billion in 2001-02 to US $ 12.4 billion in 2008-09 a CAGR of about
22.2 per cent. In the Domestic verticals of the Indian IT-ITeS Industry the IT Services
segment continue to dominate domestic portfolio of the industry. Its share however has
declined from 80.8% in 2001-02 to 66.9% in 2008-09.

ITeS-BPO segment in the domestic market has witnessed noticeable growth over the past
few years. The share of ITeS-BPO industry in domestic market is estimated to have
increased from 3.8% in 2001-02 to 15.3% in 2008-09.

Year/ Item 2001- 02 2002- 03 2003- 04 2004- 05 2005- 06 2006- 07 2007- 08 2008- 09 CAGR

IT Service 2.1 2.4 3.1 3.5 4.5 5.5 7.9 8.3 19.5

ITeS-BPO 0.1 0.2 0.3 0.6 0.9 1.1 1.6 1.9 44.5

Software 0.4 0.4 0.4 0.7 1.3 1.6 2.2 2.2 23.7
Products,
Engineering
Services

Total IT-ITeS 2.6 3.0 3.8 4.8 6.7 8.2 11.7 12.4 22.2

Source: Nasscom.

The domestic IT-BPO revenues excluding hardware are expected to grow at almost 16 per
cent to reach US$ 17.35 billion in FY2011. Strong economic growth, rapid advancement in
technology infrastructure, increasingly competitive Indian organizations, enhanced focus by
the government and emergence of business models that help provide IT to new customer
segments are the key drivers for increased technology adoption in India. Domestic BPO
segment is expected to grow by 16.9 per cent in FY2011, to reach US$ 2.8 billion, driven by
demand from voice based services, in addition to adoption from emerging verticals, new
customer segments, and value based transformational outsourcing platforms.

EMPOLYMENT

The total IT Software and Services employment is estimated to touch 2.20 million in 2008-
09, as compared to 0.52 million in 2001-02. This represents a net addition of 1.68 million to
the industry employee base since 2001-02. The indirect employment attributed by the sector
is estimated to about 8.0 million in 2008-09. This translates to the creation of about 10.20
million job opportunities attributed to the growth of this sector. IT-ITeS Exports constitute
the major source of employment for employment in this industry and its share has increased
over the years. The share of IT-ITeS Exports segment in total employment of the IT Software
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and Services Industry has grown from 52.9% in 2001-02 to 77.6% in 2008-09 whereas, the
share of domestic market in total employment of the IT Software & Services Industry has
declined from 47.1% in 2001-02 to 22.6% in 2008-09.

Year/ Item 2001- 02 2002- 03 2003- 04 2004- 05 2005- 06 2006- 07 2007- 08 2008- 09

IT Services & Exports 0.17 0.21 0.30 0.39 0.51 0.69 0.86 0.92

BPO Exports 0.11 0.18 0.22 0.32 0.42 0.55 0.70 0.79

Domestic Market 0.25 0.29 0.32 0.35 0.38 0.38 0.45 0.50

Total Employment 0.52 0.67 0.83 1.06 1.29 1.62 2.01 2.21

(Source: Nasscom)

But after the recession the market bounced and thus there was increment in the percentage of
hiring young talent professional within the domestic market.

GLOBAL SOURCING TREND

India is regarded as the premier destination for the global sourcing of IT-ITeS, accounting
for almost 51% of the global sourcing market size of $94 billion in 2009. India now has a
62% share of the global technology services market (IT Services, Engineering Services and
R&D) of about $58 billion and a 32% share of the Global Business Outsourcing Market of
about $37 billion. With the BPO going strong for the past few years, the Knowledge Process
Outsourcing (KPO), which may be called the highest level of the BPO, is still at a nascent
stage of development in the country. It is expected that emergence of the KPO market will
offer high-value services in off shoring and help the Indian ITeS Industry to climb the global
value and knowledge chain. Worldwide technology products and services related spend is
estimated to reach USD 1.6 trillion in 2010, a growth of 4 per cent over 2010, with emerging
verticals and emerging geographies, in addition to US, driving growth. Worldwide hardware
spends increased by 6.4 per cent on the back of a global refresh cycle. IT services spend
increasing by 1.4 per cent in 2010, within which IT outsourcing grew by 2.4 per cent.
Continuous ROI focus led to BPO growing by 4 per cent, while software products rose by
3.7 per cent led by increased focus on security, storage, and application development. Within
IT outsourcing, global sourcing grew by 10.4 per cent in 2010, validating the industry¶s
integral position in service delivery chain.
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INTERNATIONAL QUALITY STANDARD

luality is a major concern for software developers. luality certifications, such as the
International Standards Organization¶s ISO9000 series and Software Engineering Institute¶s
Capability Maturity Model (CMM SM) have become increasingly popular among software
vendors in Europe and the US. In Europe the ISO9000 is often required. In 1987, the
International Standards Organization (ISO) developed a framework for production standards,
the ISO9000 series, which has since been adapted to software development. Around the same
time, the Software Engineering Institute (SEI) developed a framework called the Capability
Maturity Model (CMM) primarily for US defense related software vendors. Many Indian
company rose from ISO to CMM 5 level which include TCS, WIPRO, INFOSYS,
MAHINDRA SATYAM.

Status of quality Certification obtained by Indian IT firms

Description No. Of firms

ISO 9001 330
ISO 9002 23
ISO 9001/9002 345
ISO 9001:2000 72
SEI CMM level 5 82
SEI CMM level 2,3,4 41
CMMi level 5 32
CMMi level 2,3,4 14
PCMM level 5 13
PCMM LEVEL 2,3,4 11
Six sigma 44
Others 41
Total 401
Note: take from Journal of Theoretical and Applied Information Technology
Source: luoted from Joseph 2007 (Complied by him based on NASSCOM (2006)
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GOVERNMENT INTIATIVES

Government sector is a key catalyst for increased IT adoption- through sectors reforms that
encourage IT acceptance, National eGovernance Programmes (NeGP) , and the Unique
Identification Development Authority of India (UIDAI) programme that creates large scale
IT infrastructure and promotes corporate participation.

å Software Technology Parks of India (STPIs) in 1991 for the promotion of software
exports from the country, there are currently 51 STPI centres where apart from
exemption from customs duty available for capital goods there are also exemptions
from service tax, excise duty, and rebate for payment of Central Sales Tax. But the
most important incentive available is 100 per cent exemption from Income Tax of
export profits, which has been extended till 31st March 2011.

Performance of STPI Registered Units

During the year 2008-09, 572 new units were registered under STP Scheme. As on
31st March 2009, 8455 units were operative out of which 7214 units were actually
exporting. The remaining units are at various stages of gestation as the scheme
allows three years for companies to start commercial production. The growth in
the number of operating and exporting units during the last 8 years is as
under:

(Source: STPI)
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å The government has constituted the Technical Advisory Group for Unique Projects
(TAGUP) under the chairmanship of Nandan Nilekani. The Group would develop IT
infrastructure in five key areas, which includes the New Pension System (NPS) and
the Goods and Services Tax (GST). The government set up the National Taskforce on
Information Technology and Software Development with the objective of framing a
long term National IT Policy for the country. Enactment of the Information
Technology Act, which provides a legal framework to facilitate electronic commerce
and electronic transactions.
å Government is also setting up Information Technology Investment Regions
(ITIRs). These regions would be endowed with excellent infrastructure and would
reap the benefits of co-sitting, networking and greater efficiency through use of
common infrastructure and support services.
å Electronics Hardware Technology Park (EHTP) complexes can be set up by the
Central Government, State Government, Public or Private Sector Undertakings or any
combination thereof, duly approved by the Inter-Ministerial Standing Committee
(IMSC) in the Ministry of Communication and Information Technology (Department
of Information Technology).
å Electronics and Computer Software Export Promotion Council (ESC) represents
the interests of Indian electronics and IT sector at numerous forums including
international trading arena of the Electronic and Computer Software, joint Trade
Committees of Ministry of Commerce, as well as at joint Business Councils of
various countries. Under the aegis of the Council, the IT services exports have
reached the shores of more than 200 countries across the world establishing India¶s
leadership in quality and competitiveness. ESC has a strong membership base across
the country covering the entire gamut of Electronics and Software Industry. ESC
offers a basket of services to its members for boosting exports.
å The National Association of Software and Services Companies (NASSCOM)
established in 1988 is a not-for-profit Indian consortium with more than 1200
members created for promoting and espousing the cause of the country's Information
Technology and BPO industries. The members include both Indian and MNCs with a
presence in India. NASSCOM's initiatives include maintaining India's leadership
position in the global sourcing IT industry, plan and sustain continued IT industry
growth by enabling industry to tap into emerging areas and to strengthen the domestic
market in India.
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OUTSOURCING

India is a preferred destination for companies looking to offshore their IT and back-office
functions. It also retains its low-cost advantage and is a financially attractive location when
viewed in combination with the business environment it offers and the availability of skilled
people. Some big deals in the outsourcing space include:

å Four Soft Ltd, which offers software solutions for the logistics and transportation
industry, has signed a large contract with Jacobson Companies, for implementing its
multimodal transport management system and business intelligent tool across
Jacobson locations globally.
å Information technology (IT) services and solutions provider Patni Computer Systems
has signed a five-year contract worth over US$ 32.09 million with UK-based IT
services provider 2e2. Patni will provide a range of support services to 2e2's end-user
clients and in-house support services. Patni Computer Systems has secured
outsourcing engagements from the Scandinavian insurance company Codan Group
and the UK-based Serco Learning.
å Firstsource Solutions, a Mumbai-based business process outsourcing (BPO) provider,
has announced a five-year outsourcing partnership with Barclaycard, the UK-based
credit card and consumer lending business of Barclays PLC.
å Vertex, a global customer management outsourcing (CMO) and business process
outsourcing (BPO) company, has announced a joint venture with Shell Transource to
address the domestic BPO market. Vertex will own over 70 per cent in the joint
venture, with Shell Transource holding the rest.
å Tata Consultancy Services Ltd (TCS) has announced the launch of its first BPO
centre in the Philippines. This is also the firm's first BPO centre in the South-East
Asian region.

KEY PLAYER IN INFORMATION TECHNOLOGY IN INDIA

In spite of the slowdown in the global economy, the Indian software industry is keeping up
its growth rate with the top IT Companies India leading the way for more software and
services exports. According to the latest National Association of Software and Services
Companies (NASSCOM) the top IT companies India are as follows.

TCS ± Tata Consultancy Services

TCS was founded in 1968 and is one among the top 10 IT Companies India and it has the
highest staff strength of 111,000 employees. It first started as the Tata Computer Center and
acquired its present form after realizing the huge potential of the IT services.
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Wipro

It was a hydrogenated cooking fat company basically and now has IT, BPO and R&D
services which has its centers in about 50 countries. Started by Premji Wipro not only ranks
prominently among the top IT companies India, but is also ranked highly among the top 10
global outsourcing providers.

Infosys

Infosys Technologies Ltd. started in the year 1981 and has today become a global brand. In
addition to being ranked among the top IT Companies in India, Infosys was also named by
Forbes magazine as one among the Global High Performers.

HCL Technologies

It is among the top IT companies India as it is an original IT garage start up founded in the
year 1976. It has professionals from diverse nationalities and has its presence in about 18
countries.

Patni Computer Systems

It is ranked among the top IT companies India as they are the leading providers of business
solutions and information technology related services to clients from Europe, America and in
the Asia-Pacific regions.

i-flex Solutions

This is a division of Citicorp (Citigroup) which provides overseas software solutions and
posted a top-line growth from the year 2008. The prominent partners of Iflex Solutions Ltd
are Sun Microsystems, IBM, Hewlett Packard, Oracle, Intel and Microsoft.

MphasiS Limited

This was started in 2000 and is a merger of the MphasiS Corporation which is a US based IT
consulting company and BFL Software Limited which is an Indian IT services company.

L&T Infotech

Last but not least, the L&T Infotech is ranked among the top IT companies India and is a
subsidiary of Larsen & Toubro which is an engineering manufacturing company with a
worldwide presence.
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KEY CONSTRAINT AND CHALLENGES IN IT/ITES SECTOR

While India continues to be the dominant player in the global sourcing sector, its future will
depend on how challenges to its continued competitiveness are tackled. The primary sources
of risk are low employability, infrastructure constraints, rising costs, security concerns,
discontinuation of fiscal incentives and a supportive policy framework and lack of an
innovation ecosystem. In addition, the competition is intensifying and many countries are
now positioning themselves as global sourcing destinations providing a plethora of
incentives.

X Risks Implications - Rising costs Wage inflation at an average of 12% per annum in
last few years and 10% in next 5-10 years
X Public infrastructure development costs
X Decline in talent availability
X Low employability of entry-level workforce
X High GDP growth increasing the war for talent
X Declining willingness of people to work in industry
X Competition from new locations
X Emergence of competing locations
X Talent enhancement in countries such as China, Egypt
X Targeting specific segments by rival locations
X Infrastructure and policy support by competitive locations
X Low vendor maturity Indian vendors offer limited enhanced capabilities
X R&D spend at .85% of GDP is lower than in rival locations
X Lack of institutional capabilities for academic research and hence low turnout of
PhDs
X Lack of enforcement of IP laws discourage research and technology
commercialization
X Discontinuation of fiscal policies and diminishing regulatory support
X The industry is putting together a number of initiatives to mitigate these risks but need
sustained policy support from the government.

FUTURE TREND

The Indian information technology sector continues to be one of the sunshine sectors of the
Indian economy showing rapid growth and promise. According to a report prepared by
McKinsey for NASSCOM called 'Perspective 2020: Transform Business, Transform India'
released in May 2009, the exports component of the Indian industry is expected to reach US$
175 billion in revenue by 2020. The domestic component will contribute US$ 50 billion in
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revenue by 2020. Together, the export and domestic markets are likely to bring in US$ 225
billion in revenue, as new opportunities emerge in areas such as public sector and healthcare
and as geographies including Brazil, Russia, China and Japan opt for greater outsourcing.
The Indian government believes the export turnover from IT sector would be US $ 80 billion
by 2011.

X According to NASSCOM IT BPO exports (inclusive of hardware exports)

grew by 16 per cent from US $ 40.9 billion in 2007-08 to US $ 47.3 billion in
2008-09.
X According to various studies despite the global meltdown the Indian IT
Industry is expected to be the fastest growing in the Asia Pacific region with a
CAGR of 18.6 per cent.

As the new scenario unfolds it is getting clear that the future growth of IT and IT enabled
services will be fuelled by the verticals of climate change, mobile applications, healthcare,
energy efficiency and sustainable energy et al. Traditional business strongholds would make
way for new geographies, there would be new customers and more and more of SMEs(Small
and Medium Enterprises) will go for IT application and services. Rising up to the new
challenges will only be possible when we scale-up the value chain and put in efforts toward
providing more and more of end-to-end solutions to the clients. Indian IT firms will have to
strive for that extra mile and put in smart work to survive in the newer growth opportunities.

By the year 2010-11 our Software and Services export is expected to reach US $ 60 billion
and by 2011-12 which is also the terminal year of the eleventh five year plan, the figures are
expected to touch US$ 72 billion., this is assuming a 20% growth rate YOY(year over year)
for 2011-12.
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REFERENCE

1)Asheref Illiyan, 2008, ³Performance Challenges and Opportunities of Indian Software Export´,
Working Paper, Jamia Millia Islam University,
http://www.jatit.org/volumes/research-papers/Vol4No11/11Vol4No11.pdf

2)Software Technology Parks of India, 2009, ³Annual Report´,

http://www.stpi.in/writereaddata/links/50428173332534218955annuarl1.pdf

3)NASSCOM, 2011, ³The IT-BPO Sector in India´,

http://www.nasscom.in/upload/Publications/Research/140211/Executive_Summary.pdf

4) Report of Task Force on IT/ITES growth measure

http://www.indi inbusinss.nic.in/industry-infr structur/srvic-sctors/it.htm

5)Wikipedia, 2010, ³Information Technology in India´,

http://en.wikipedia.org/wiki/Information_technology_in_India