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Digital to drive transformation for the Indian technology industry

Digital to drive transformation for the Indian technology industry

Indian IT-BPM industry clocks a growth rate of 8.6 percent in FY2017 in a year of moderate global growth.

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The Indian technology industry is growing on the transformation path to become a digital technology industry by developing its digital capabilities and reorganizing itself to make the most of this opportunity. These and many other industry trends were discussed at start of the 25th edition of the annual NASSCOM India Leadership Forum.

Sharing their views, CP Gurnani, chairman, NASSCOM, Raman Roy, vice chairman, NASSCOM and R Chandrashekhar, president, NASSCOM, said that with companies actively exploring new engagement models, there is a growing need to restructure and focus on capacity development to address the digital opportunities. 

On the industry’s performance in FY2017, NASSCOM said that amidst continuous technology disruptions, political upheavals, and slowdown in IT-BPM global spending, the Indian IT-BPM industry is projected to grow at a rate of 8.6 percent to reach over USD 155 billion in FY2017. IT-BPM exports from India is expected to reach USD 118 billion. India’s domestic IT-BPM market is expected to grow by 12 percent YoY to reach INR 2,545 billion.

“The digital tsunami is reshaping our industry the priority is to reimagine businesses and unlock new opportunities. The Indian IT-BPM Sector is emerging as a digital solutions partner for global corporations and we are excited to work across stakeholders – customers, start-ups, academia and others to build this exciting future,” Gurnani said.