Revenues from the domestic IT and ITeS market is likely to touch Rs 1,10,000 crore (Rs 1,100 billion) in 2008, marking a 24% growth, despite a decline in the IT spending worldwide, an industry study has indicated.

"By posting a substantial jump in the domestic IT/ITeS market since 2002, the industry is now on to a new growth trajectory. IDC India expects a significant transition in the Indian IT market as part of the second growth phase," said Kapil Dev Singh, country manager, IDC India. For the domestic IT and ITeS sector, year 2008 would also mark the beginning of the second growth phase characterised by opportunities stemming out of leveraging the IT infrastructure built up, leading industry researcher IDC India added.

Among the BRIC nations (Brazil, Russia, India and China), India's revenues would grow fastest at least till 2011, the study said. However, the worldwide spending on IT would be at 5.5-6%, down from 6.9% in 2009, triggered mainly by the downside risk in the US market, it revealed.

Extending services to the Indian companies and consumers, the phase would find the 'digital experience' in the telecom sector taken to the 'next level,' the study said. Fixed-line broadband would emerge as a dominant trend, though mobile internet would continue to grow as an alternate internet access medium, the study said, adding during the first half of 2008, big telecom companies might offer broadband up to eight Mbps to consumers in the metros and a few other cities.

The study also indicated that the Fixed Mobile Convergence would ensue a new "battle" in the telecom sector, in which integrated service providers would gain and the stage would be set for Unified Communications services.