2013-01-22 17:48:58 - Indian IT market set to see spending rise 19% through 2013
Spending within the Indian IT market has been forecast to increase by 19% through 2013, reaching a valuation of US$24.4 billion, with government IT procurements at state and federal level helping to generate spending. The IT sector has increased its contribution to India´s GDP from 1.2% in FY1998 to 7.5% in FY2012.The Indian domestic IT services market is fast transitioning, with profound changes in buying needs and behavior. The number, size and scale of IT services deals are increasing. Buyers are becoming more sophisticated in their sourcing practice and vendor management. The major cities that account for about nearly 90% of this sectors exports are Bangalore, Hyderabad, Chennai, Delhi, Mumbai, Pune, Coimbatore and Kolkata.The Indian IT sector has also led
to massive employment generation. The industry continues to be a net employment generator - expected to add 230,000 jobs in FY2012, thus providing direct employment to about 2.8 million, and indirectly employing 8.9 million people.However, the sector continues to face challenges of competitiveness in the globalised world, particularly from countries like China and the Philippines.In 2013, there are expected to be strong growth opportunities in the next 200-400 smaller cities in India, where vendors are expanding their retail and distribution presence. Around 45% of new PCs sold in the Indian market are now shipping outside the top 75 cities. The government´s policy of providing tax breaks and subsidies for hardware manufacturers should help keep prices down and support growth.The Indian market of the future is likely to see efficiency and enhancement-based deals in energy and utilities, transportation, education and parts of government bodies. Likewise, the market is likely to see more transformation deals in banking and insurance, telecom, retail and government.For more information on the Indian IT market, see the latest research: Indian IT MarketFollow us on Twitter @CandMResearch
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