Bangalore, dec 25: The resilient $270-billion and Indian IT industry returned to the upper growth trajectory in 2013 and is hoping to achieve momentum within the succeeding year for a bigger share of the worldwide multi-billion dollar outsourcing market.
Putting behind a turbulent 2012, the business consolidated its presence within the software services sector, with its prime four IT bellwethers – TCS, Infosys, Wipro and HCL – posting higher results to register a healthy 12-14 p.c growth to date as against 10 % last business (2012-13).
“We have seen a big increase in world technology spending this year, making opportunities for the Indian software services sector to post whole number growth once more in export likewise as within the domestic markets,” a prime business representative said.
The National Association of software and Services firms (Nasscom) is expecting the business to clock export revenues of $84-87 billion this business (FY 2014) as against $76 billion last business (FY2013).
In the Indian market, the business is, expected to grow marginally year-on-year at 14 % to post Rs.1.2 trillion ($185 billion) this business from Rs.1.05 trillion ($160 billion last business.
“We have set to not revise our estimates and continue the 12-14 p.c growth forecast for this business although the world has faced headwinds attributable to slow recovery in its major export markets – the US and Europe,” Nasscom’s outgoing president som Mittal told.
The Indian IT business includes domestic firms, captive centres of multinationals, world business classification standards (GICs) and business sectors providing software and hardware services, business method outsourcing (back workplace operations), engineering and analysis and development (ER&D) and product.
The highlight of the year is that the come of the industry’s icon and Infosys co-founder N.R. Narayana Murthy as government chairman in June to place the worldwide software package major back to reckoning when it had been found faring behind its peers attributable to combination of things.
Though Murthy, 67, came back from retirement to revive the company’s fortunes, transfer his son Rohan Murthy as his government assistant, the $7-billion Infosys conjointly saw eight of its prime executives, as well as 2 board directors quitting the corporate in search of greener pastures.
The year conjointly saw Infosys contender, Wipro Ltd hiving off its non-IT business in April into a separate enterprise by de-merging its client care & lighting, infrastructure engineering and medical diagnostic product & services business from its world software package services and product business.
Keeping pace with riotous technologies and new delivery platforms, the business has diversified its service offerings to analytics, mobility, cloud, social media and rising verticals like care and medical devices.
“India is that the solely country to supply such a good vary of offerings spanning IT services, pace (business method management), engineering, R&D, web and quality and software package product. the web and mobile platforms ar facultative the event of low-priced product not just for enterprises, however conjointly shoppers and voters,” Mittal declared.
The business is additionally finance in technology and talent to explore opportunities like good computing, anything-as-a service and therefore the little and medium businesses.
“The domestic market is additionally maturing and is one among the quickest within the developing countries, thanks increasing role technology is taking part in in reworking delivery of various services within the government and personal sector,” Mittal noted.
Though attrition remained on top of last year, particularly among the bellwethers, field hiring and contemporary offers declined throughout the year, as firms consolidated operations than invest in human capital to form a lot of techies sit on the bench looking forward to new comes.
The business added 188,000 jobs last business, taking the entire range of direct jobs to 3 million.
“The business has once more incontestable resilience and nimbleness. As technology has become associate integral enabler for growth across sectors, we have a tendency to ar evolving and innovating to become a strategic partner to our customers. The thrust is to supply IP-led solutions over multiple platforms, that are transformative in nature,” Nasscom chairman and TCS chief government N. Chandrasekaran aforesaid.
Highlights of 2013:
-Software exports to grow 12-14 % to clock $84-87 billion
-Domestic market to conjointly grow 14 % to $185 billion
-N.R. Narayana Murthy returns to Infosys as chairman
-Eight top executives quit Infosys in six months
-Wipro hives off non-IT business as separate enterprise
-Industry diversifies into giving new services & product
-Campus hiring and fresh offers dip despite higher attrition
-Thrust on providing IP-led solutions on multiple platforms