Monday, August 9, 2010

Current Status of Indian IT-ITES Industry

Indian IT-ITES Review 2010 (July 2010 - Gaurav Vasu)

Indian IT-ITES sector generated revenues of about USD 73.1 billion in FY2010, a growth of 5.4 per cent over FY2009. Sector provides direct employment to 2.3 million people and contributes to about 6.1 per cent of India's GDP. Indian IT-ITES sector continues to be export oriented with about 69 per cent ($50.1 billion) of India's total IT-ITES sector (US still being a major contributer). Indian IT-ITES sector created 90,000 addition jobs for FY2010 and as per Nasscom estimates next year Indian IT-ITES sector would add another 1,50,000 (Net hiring) professionals for FY2011.

Top 20 IT Exporters from India (Includes services and product firms)

  1. Tata Consultancy Services

  2. Infosys Technologies

  3. Wipro

  4. Cognizant Technology Solutions

  5. HCL Technologies

  6. IBM India

  7. Accenture India

  8. Tech Mahindra

  9. MphasiS

  10. Oracle India

  11. Patni Computer Systems

  12. Hewlett-Packard India

  13. Capgemini

  14. CSC India

  15. L&T Infotech

  16. Syntel

  17. Aricent

  18. Prithvi Solutions

  19. Polaris Software Lab

  20. Mindtree Consulting
Top IT-ITES firms are optimistic about the global demand in the next two qaurters and hence all the top players are hiring aggresively.

However companies across the globe are focusing on reducing capital expenditure hence concepts like "Cloud Computing and SaaS" have taken a center stage. Global economies especially US and Europe are still battling with lower private consumption and high unemployment. Slight recovery in the US is largely due to government spending & stimulus.

While MNC's and top five Indian IT-ITES players are doing well most mid to small size companies are still struggling to stay afloat. Mid and small IT-ITES players have failed to close deals in the domestic market.

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