The Growth Drivers

Renowned Management Guru

As with previous years, sustained economic revival on the strength of strong market fundamentals, greater enterprise spending, government and PSU-dictated needs and SMB-fuelled demand continued to trigger IT spending. Various bigticket IT contracts have been inked in the past one year with the nature of the deals being more complex and large-scale – attesting in many ways the increasing maturity of the Indian IT industry in terms of offering end-to-end solutions.

Expectedly, enterprise & commercial spending has driven the massive demand for IT solutions. India Inc’s growing appetite for expansion activities, related business growth initiatives and growth– led acquisitions has raised the stakes. As a result, IT companies now offer a whole suite of solutions to cater to widely varied IT & business needs – packaged application management, systems integration, data management and customised software development. The Rs.10 billion plus SMB market continues to excite major Indian and global MNCs looking to sell a whole range of services and solutions. Even the government sector has shown growing momentum through a bouquet of initiatives like internal department efficiencies, e-procurement and IT-enablement of Rural Panchayat Bodies. As for the IT industry, healthy corporate earnings have meant that contract wins have become bigger and more performance based parameters are being set.

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Source : IIPM Editorial, 2007

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