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)
- Tata Consultancy Services
- Infosys Technologies
- Wipro
- Cognizant Technology Solutions
- HCL Technologies
- IBM India
- Accenture India
- Tech Mahindra
- MphasiS
- Oracle India
- Patni Computer Systems
- Hewlett-Packard India
- Capgemini
- CSC India
- L&T Infotech
- Syntel
- Aricent
- Prithvi Solutions
- Polaris Software Lab
- Mindtree Consulting
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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