Indian IT - Quo Vadis?
Indian IT aspires to reach $ 60 billions by 2010 as per Nasscom - McKinsey report. The present export figures of Indian IT is $ 31 billions. Right now the market share of Indian IT offshore is 65% and BPO is 46% of Global IT offshore and BPO market respectively which is around $ 300 billions. But then why has India's exports grown only to $ 31 billions? Indian cost is low comparatively but that is the pull factor influencing Indian IT. MNCs are gaining a major market share by their captive units. The supply is not corresponding to demand. We are not able to meet the scale needed to meet the demand due to many constraints. What are the constraints to our growth? Inadequate talent to meet the demand. It is predicted there can be a shortage of 150,000 graduates in IT alone by 2010. This is going to be one of the major constraints. IT cos need to focus on demand and put in place adequate training programmes aimed at futuristic growth. Here attrition is going to be a big chall