Press Esc to close
Thursday 29 January 2015
News updated at 7:41 PM IST
Weather
Max: 28°C
Min : 17°C
In Bengaluru
Sunny day

India's IT sector to touch Rs 1.75 lakh cr by 2016: BCG-CII

New Delhi, Mar 18, 2013 (PTI):

India's Information Technology industry is expected to touch the Rs 1.75 lakh crore mark by 2016, helped by rise in IT services and software segments, a report by Boston Consulting Group (BSG) said.

"The domestic IT industry is expected to grow at 12 per cent over next 4 years, reaching a size of Rs 1.75 lakh crore by 2016, driven primarily by the services and software segments," the BCG-CII report added.

According to the BCG-CII report on IT enablement of Indian business, the domestic IT sector was worth Rs 99,700 crore in 2011 with IT services contributing the largest share at Rs 49,400 crore followed by hardware (Rs 32,500 crore) and software services (Rs 17,800 crore).

The report pegs IT services sector to grow at 14 per cent and touch Rs 96,600 crore by 2016 followed by hardware, that is pegged to grow at 6 per cent to Rs 44,400 crore and the software products segment is expected to grow at 14 per cent to Rs 34,400 crore by 2016, it said.

While presenting the report, Microsoft Corporation India Chairman Bhaskar Pramanik said Indian IT industry is expected to touch USD 100 billion in FY 2012-13, which is approximately 7.5 per cent of GDP.

While it will continue to accelerate growth from the global market, there is an opportunity for the IT sector to work closely with the government to kick-start the economy, Pramanik, who is also the Chairman of CII National Committee on IT, ITeS and e-Commerce, added.

Speaking to reporters on the sidelines of the event, Pramanik said the challenges that IT sector will face are those related to looking for growth solutions, which are fast, have a shorter time frame and are financially viable.

On spending, he said more than 50 per cent of the firms have indicated that they will step up their IT spending.

Infosys Co-founder and President – Designate CII S Gopalakrishnan stressed on  adoption of IT as a transformation tool to help India leapfrog into higher growth trajectory.


Go to Top

Photo Gallery
A groom leads his horse in the equine pool after working out on the track, during early morning...

A groom leads his horse in the equine pool after working out on the track, during early morning...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

A Police man takes pictures as the Raisina Hill which houses India's most important ministries...

A Police man takes pictures as the Raisina Hill which houses India's most important ministries...

A man walks on a snow covered path after in Srinagar on Thursday. Temperatures drop due...

A man walks on a snow covered path after in Srinagar on Thursday. Temperatures drop due...

A scene after light snow fall at Dal Lake in Srinagar on Thursday...

A scene after light snow fall at Dal Lake in Srinagar on Thursday...

Migratory seagulls are seen above the river Ganga during Magh Mela in Allahabad...

Migratory seagulls are seen above the river Ganga during Magh Mela in Allahabad...

President Pranab Mukherjee leaving for Beating Retreat ceremony from forecourt...

President Pranab Mukherjee leaving for Beating Retreat ceremony from forecourt...

School children perform during presentation of National Bal Shree Honour 2011 & 2012...

School children perform during presentation of National Bal Shree Honour 2011 & 2012...

Bollywood actor Anil Kapoor during inauguration of International Bicycle & Fitness Expo...

Bollywood actor Anil Kapoor during inauguration of International Bicycle & Fitness Expo...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523