Som Mittal / NASSCOM – India IT at $300 Billion in Revenue by 2020

Som Mittal, President of the National Association of Software and Services Companies (NASSCOM) in India, stated in an interview with the Hindu newspaper this month that the Indian IT industry was projecting towards totals of $300 billion USD per annum in revenue by 2020. Most important in this, according to Mittal, is the rise in the Asian economies vs. the West in terms of GDP expansion, but he states also that the Indian IT industry must adopt a global model to continue to expand successfully. The BPO / Offshoring model, where companies maintain extensive IT centers in India to offset labor costs primarily requires that clients have absolute security and stability in the long term quality of service provided.

“As an indicator of the future, Mr. Mittal pointed out that in 2025, Asia’s (excluding Japan) share of the global Gross Domestic Product was expected to rise at a compounded annual growth rate of 6.3 per cent, against North America’s projected 3 per cent. To realise this potential, the industry had to leverage on its strengths and adapt to the changed world dynamics, he said. ‘We are an industry which competes fiercely within itself and also collaborates fiercely.’”

“Elaborating, Mr. Mittal said the industry had to look beyond the Fortune 500, and tap into the small and medium businesses. It also had to reduce the heavy dependence on the traditional segments of BFSI (Banking, Financial Services and Insurance), Telecom and Manufacturing, and move into public sector and healthcare verticals. In terms of geography, the BRIC (Brazil, Russia, India and China), the Gulf Countries and Japan had potential, he added. ‘The demographic shifts will fuel the growth of new sectors,’ he said.”

Read the rest of Som Mittal / NASSCOM – India IT at $300 Billion in Revenue by 2020 »

Official – Tech Mahindra wins bid for BPO Pioneer Satyam

It was announced mid-day Monday in Mumbai – Tech Mahindra has officially won the bid for the Indian IT giant Satyam.  Satyam founder Ramalinga Raju remains in jail with a number of other company financial officers and accountants. The trial is set to begin later this year. Raju’s public confession of misstating accounts to the tune of over $1 Billion USD, serially, for years has reduced the company dramatically in global stature, so this event is seen as the first step in closing the last chapter and starting a new one for Satyam. It is a huge move for Tech Mahindra.

Read the rest of Official – Tech Mahindra wins bid for BPO Pioneer Satyam »