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India has emerged as the fastest growing and the fourth largest IT market in Asia Pacific, according to an IDC study.
 
  • The industry (exports and domestic combined) is expected to touch Rs 247,000 crore (US$ 53.2 billion) by 2008 compared to Rs 87,000 crore (US$ 18.7 billion) in 2003, thus growing at a CAGR of 23.1 per cent.
     
  • Exports of the Indian software and services sector was Rs. 78,230 crore (US$ 17.2 billion) in 2004-05, up 34 per cent from Rs. 58,240 crore (US$ 12.8 billion) in 2003-04
     
  • With satisfactory growth of the Indian ITES-BPO sector both on-shore as well as offshore, export revenues from this sector increased rapidly from US$ 2.5 billion in 2002-03 to US$ 3.6 billion in 2003-04 and further to US$ 5.1 billion in 2004-05.
     
  • The output of the Indian electronics and IT industry was Rs. 1,48,360 crore (US$ 33 billion) during 2004-05, up 25.4 per cent from Rs. 1,18, 290 crore (US$ 26 billion) in 2003-04
     
  • The number of professionals employed in India by IT and ITES sectors is estimated at 10,45,000 as on March 31, 2005.
     
  • The break-up in terms of exports and domestic revenues is in favour of exports, which will increase its share from 65 per cent to 71 per cent during 2003-08. In 2003-04, value of software and services export is estimated to have increased by 30 per cent to US$ 12.5 billion.

    The Software Technology Parks of India have reported software exports of Rs. 31,578 crore (US$ 6,947 million) during April-December 2004-05 as against Rs. 22,678 crore (US$ 4,913) during the corresponding period in 2003-04.

The world's IT lab

India has now become an R&D hub for software.

  • A joint project for setting up nanoelectronics centers at the Indian Institute of Science, Bangalore, and the Indian Institute of Technology, Mumbai, has been sanctioned with a total outlay of Rs 99.80 crore (US$ 22 million) over a period of five years.
     
  • Google, the world's largest search engine, has set up an R&D centre in Bangalore.
     
  • Leading web portal Yahoo also carries out R&D work in Bangalore.
     
  • U.S.-based chipmaker Intersil is setting up a design centre in Bangalore.
     
  • IBM has set up a research lab in Delhi to tap Indian talent, one of eight such labs in the world. It has 70 researchers in India.
     
  • Mobile phone giant Nokia plans to set up a R&D hub in India.

 

  
     
 
   

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