Despite software industry body, Nasscom, chopping the domestic IT growth forecast for the next fiscal to 9-12% from its fiscal 2014 projection of 13-15%, experts are upbeat on
The optimism stems from the steady domestic growth for most leading IT firms in the last two-three quarters, a slew of large projects from the Indian government and the banking sector, and the current social, mobile, analytics and cloud (SMAC) revolution in the country.
Currently, the Indian market contributes 5% to overall revenues of top Indian IT firms.
This share is expected to go up to 8% in the next two years, according to some estimates.
As per Nasscom, the IT-BPM market is expected to grow by
Sen said while it will take some time before the investments start bearing the fruit, the Indian domestic market share will increase from 5-7 or 5-8% in the next two years, in certain sectors.
Echoing the view,
ICT service providers will benefit from eGovernment projects and citizen participation, aided by expansion of affordable broadband connectivity and mobile solutions, it said.
Two examples of IT companies which are now focusing increasingly on the domestic market are Steria and
All this has the potential to drive up revenue margins from 15-50% - on a project-specific basis, said Deloitte's Sen.
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