Nasscom CEO Summit 2009 Concluded In Kolkata
Industry captains got together to discuss, debate and strategize on the next phase of IT industry’s evolution at the second annual Nasscom CEO Summit 2009 held on September 15 at ITC Sonar Bangla. The Summit addressed issues of both the short-term 2010 outlook as well as the long-term potential of the industry as outlined by the Nasscom Perspective 2020 report done in collaboration with McKinsey & Co.
Nasscom’s estimates for the IT- BPO industry for 2009-10, include export growth at 4-7 percent and domestic market growing at 15-18 percent. While uncertainty still prevalent, the sentiment now being reflected is that the worst of the crisis is over. According to the Industry body, one can witness a growth in domestic market, a three-fold growth in emerging verticals and geographies, enhanced globalization of the industry and over 90 percent repeat business from clients.
Som Mittal, President, NASSCOM said, “While the short-term challenges exist, the potential for this industry is tremendous and the industry will not be demand constrained. The opportunity ahead is likely to increase by three times and India can aggregate revenues of $225 billion by 2020. However, 80 percent of incremental growth will be driven by opportunities outside the current core markets, verticals and customer segments and will require industry to build different business models and the country to invest more in education and infrastructure”.
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