Apex software industry body Nasscom said on Friday that 80 per cent of the fresh opportunities for India's IT and ITeS sector this decade (2011-2020) are going to come from new geographies, verticals and customer segments.National Association of Software & Services Companies president Som Mittal said that growth has come back to India's IT and ITeS industry and 'the growth is going to be very different from the growth that we had in the past'.
". . .as per our analysis, in the coming decade (2011-2020), 80 per cent of the new opportunities are going to be from new areas such as new geographies, new verticals, new customer segments," he said.
"So I think we need different focused approaches for the next decade. I think we have a sound foundation that is there," Mittal told reporters at the inauguration of an international conference on software engineering, organised by the Computer Society of India.
There are huge opportunities ahead
of us, Mittal said. He said the US would continue to be a large market for India's IT companies, noting that revenues from here grew faster than the industry average last year.
"There is still a lot more to be tapped within the same country, within the same customers".
Nasscom is working with automotive and textile clusters to encourage adoption of IT by small and medium enterprises, Mittal said.
"With cloud (computing services) coming in, it's possible to offer IT at a very reasonable cost".
Cloud computing services would throw up a new breed of entrepreneurs and drive complancency out of the big players, he said. On scams dominating the political and media landscape, Mittal said that it would have no impact on the IT industry, saying customers are actually happy that these scandals are not being brushed away and indeed are being addressed.
