'SCAM' to make 2013 a promising year for Indian IT- BPO sector
- Navjot Sidhu: Quit RS because I was told to stay away from Punjab
- Chinkara poaching case: Salman Khan acquitted by Rajasthan High Court
- SC issues notice to Vijay Mallya on bank plea seeking contempt proceedings
- Journalists' visa issue: Chinese media warns India of repercussions
- Parliament LIVE: Speaker Mahajan advises Mann not to attend proceedings till decision arrived at
Flat IT budgets and uncertain macro environment may continue to challenge the Indian IT-BPO industry, but as technology becomes more central to everyday lives of consumers and corporate alike, 2013 promises to be a good year for the USD 100 billion sector.
Post the 2008 global financial crisis, the Indian IT industry, which saw phenomenal growth in the preceding five years on back of a over 25 per cent growth in exports that made companies like Infosys, TCS, and Wipro poster boys for investors, seems to have lost its sheen.
Factors like weakening rupee, high production input prices, hike in borrowing costs, and geo-political situation continued to plague the industry in 2012.
These along with domestic policy paralysis prompted software services industry body Nasscom to lower growth forecast for 2012-13 for IT-BPO exports to 11-14 per cent from previous fiscal's target of 16-18 per cent growth.
IT companies seem to be ready for this new "normal" and are now embracing technologies like social media, cloud, analytics and mobility (SCAM) to optimise and ensure efficiency in business environment, all within flat or lower than usual IT budgets.
While the global macroeconomic scenario remains uncertain in the coming years, the industry will continue to exhibit resilience and adaptability in continually reinventing itself to retain its appeal to clients, Nasscom said.
"The year 2012 has been a landmark year for the Indian IT industry... At such a large base, we expect the industry to clock double digit growth in FY 2013 which exhibits that despite global uncertainties, IT-BPM industry has moved from efficiency to effectiveness," it added in an emailed response.
Year 2012 was a mixed one for the top five IT services firms. While Tata Consultancy Services (TCS), HCL Technologies and Cognizant saw good growth, Infosys and Wipro lagged peers.
- BJP was not dependent on Dalits to win Gujarat. But the apathy may cost in other states
- Jayalalithaa and Mamata defend Mayawati, recast politics on gender lines
- The Worship of False Gods
- As Trump’s support cuts across traditional lines, Hillary Clinton has a tough task
- SH Raza He was the last of Progressive Artists’ Group titans. Only the Bindu remains
- The recent violence against Dalits in Gujarat is a fallout of the Sangh Parivar’s diktats on food