Wednesday 23 April 2014
News updated at 5:08 PM IST
Weather
Max: 35.5°C
Min : 21.5°C
In Bangalore
Partially cloudy

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
Bengaluru FC player in a Jubilant mood at International Airport,Bengaluru after winning I league...

Bengaluru FC player in a Jubilant mood at International Airport,Bengaluru after winning I league...

Timothy John Bristow, Sir Robert Bristow’s nephew with his wife Rebecca visits the Harbour Bridge...

Timothy John Bristow, Sir Robert Bristow’s nephew with his wife Rebecca visits the Harbour Bridge...

Priyanka Vadra shares meal with a village woman in a field during an election campaign for her...

Priyanka Vadra shares meal with a village woman in a field during an election campaign for her...

Encyclopaedia Britannica President Jorge Cauz and Geeta Dharmarajan, founder & executive directoR...

Encyclopaedia Britannica President Jorge Cauz and Geeta Dharmarajan, founder & executive directoR...

School children greet Sachin Tendulkar on the eve of his birthday in Moradabad...

School children greet Sachin Tendulkar on the eve of his birthday in Moradabad...

An Indian Hindu devotee prays to the river Ganges, in Varanasi, India...

An Indian Hindu devotee prays to the river Ganges, in Varanasi, India...

A ragpicker girl Zahanara Khatun, 12, looks at the camera as she searches for recyclable items at...

A ragpicker girl Zahanara Khatun, 12, looks at the camera as she searches for recyclable items at...

Indians stand on the banks of the River Yamuna, covered in industrial effluence on Earth Day in...

Indians stand on the banks of the River Yamuna, covered in industrial effluence on Earth Day in...

Indian devotees pray and take dip on the banks of the river Ganges, in Varanasi...

Indian devotees pray and take dip on the banks of the river Ganges, in Varanasi...

A man poses as he gets his face painted ahead of the sixth phase of India's general election...

A man poses as he gets his face painted ahead of the sixth phase of India's general election...

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