FY2015 is expected to see the export market at ~USD 100 billion, recording a 13.1 percent growth in constant currency over last year
Digitization, internet of things, agile entrepreneurial ecosystem, improving business environment and many other such trends were revealed at the release of the NASSCOM Strategic Review 2015 at Grand Hyatt, Mumbai.
The press conference was addressed by R Chandrasekaran, Chairman, NASSCOM, BVR Mohan Reddy, Vice Chairman, NASSCOM and R Chandrashekhar, President, NASSCOM, before the commencement of the annual India Leadership Forum.
The current fiscal year FY2015 brought in overall optimism for the Indian IT-BPM industry and is expected to meet guidance for the year in constant currency. The industry continued to evolve over the year and prioritized on enhancing efficiency, enabling transformation and agility and partnering for digital initiatives. Aggregate industry revenues for FY2015 are estimated at USD 146 billion.
FY2015 is expected to see the export market at ~USD 100 billion, recording a 13.1 percent growth in constant currency over last year. Growth in reported currency is estimated at 12.3%. ER&D and product development segment is the fastest growing at 13.2 per cent, driven by higher value-added solutions from existing players and expansion of the GIC landscape. Digital solutions around SMAC – upgrading legacy systems to be SMAC enabled, greater demand for ERP, CRM, mobility and user experience technologies is driving growth in IT services. Infrastructure outsourcing and software testing segment also outpaced the industry growth rate. The BPM sector is being driven by greater automation, expanding omni-channel presence, application of analytics across entire value chain, etc.
Chandrasekaran said, “Digital also became main stream during the year, with industry increasingly investing in digitized solutions to drive future growth opportunities. Interestingly digital solutions in the year accounted for 12-14% of the industry revenues.”
The domestic IT-BPM market is rapidly approaching the USD 50 billion mark. In FY2015, the market is expected to be a little over USD 48 billion, an annual growth of 14 per cent.
