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Globalisation has a profound impact in shaping the Indian Information Technology (IT) industry over the years with India capturing a sizeable chunk of the global market for technology sourcing and business services. Over the years the growth drivers for this sector have been the verticals of manufacturing, telecom, insurance, banking, finance and of late the fledgling retail revolution. As the new scenario unfolds it is getting clear that the future growth of IT and IT enabled services will be fuelled by the verticals of climate change, mobile applications, healthcare, energy efficiency and sustainable energy et al. Traditional business strongholds would make way for new geographies, there would be new customers and more and more of SMEs(Small and Medium Enterprises) will go for IT application and services.
Rising up to the new challenges will only be possible when we scale-up the value chain and put in efforts toward providing more and more of end-to-end solutions to the clients.
Indian IT firms will have to strive for that extra mile and put in smart work to survive in the newer growth opportunities.
By the year 2010-11 our Software and Services export is expected to reach US $ 60 billion and by 2011-12 which is also the terminal year of the eleventh five year plan, the figures are expected to touch US$ 72 billion., this is assuming a 20% growth rate YOY(year over year) for 2011-12.