BW : India Tech Boom To Continue

Tuesday, July 10, 2007

The Indian technology sector will generate US$50 billion in revenues during the 2007 financial year, according to industry association Nasscom.  Despite predictions that India’s tech bubble is about to burst, in terms of revenue, there is little sign of the industry slowing down.  Nasscom’s annual survey of the Indian software and services sector found revenues for the 2006 financial year increased by more than 30% to US$40 billion, exceeding Nasscom’s forecast of 27%.  This level of growth is expected to continue during 2007-08 by Nasscom, which predicts revenues to increase by between 24-27%.  Kiran Karnik, president of Nasscom, said he is confident the body’s target of US$60 billion in revenues by the 2009 financial year is achievable.

But he added there will be medium and short term challenges that need to be addressed by the industry, government, academia and Nasscom.  These challenges include rupee appreciation, producing suitable talent, developing infrastructure and creating a positive regulatory environment…..Narayanan added the industry now directly employs 1.6 million people in India–creating jobs for six million more in related industries–and makes up 5.2% of the country’s annual GDP.  The survey also revealed that TCS, Infosys and Wipro remain the top three Indian software and services exporters.

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One Response to “BW : India Tech Boom To Continue”

  1. ram Says:

    A note of reality needed here on TCS..I used to work in Tata Consultancy Services earlier. Frankly, I was shocked to see the level of staff exploitation as well as lack of ethics in their client work culture, contrary to the general impression created by them to the Industry abroad. I remember that they completely copied a major Benchmarking study from one client to another without any sincere effort altogether. It is sad to see the Industry running after and incredibly enriching these kind of firms, who fundamentally grew from highly unethical and exploitation driven business models. Also, it may surprise many of us to know the hard fact that none of the good and qualified professionals stayed long in TCS over the past many years. All the good genuine professionals with initiative and ideas were harassed and suppressed by the highly predominant low quality and less educated old timer staff in TCS, and left the firm after demotivation in this environment. Result it that all the low quality and less educated people have stuck to TCS past 10-20 years and occupying most of senior positions nowadays, while 95% of the good qualified people left due to demotivation and harassment etc.. LET THIS BE A CHALLENGE TO TCS, IF THEY CAN REFUTE THIS FACT.. There are hundreds and maybe thousands of ex TCS employees who can vouch for this sad fact..

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