The Indian information technology industry crossed the $50 billion mark in 2006-07. Dataquest's annual 'DQ Top 20' survey of the Indian IT industry revealed that the IT industry recorded a growth of 32 per cent in rupee terms and was a little shy of 30 per cent growth in dollar terms during the year.

With a growth of 35 per cent, IT exports continued to hold the majority of the revenue share by contributing Rs 1,53,744 crore to the total revenue of Rs 2,26,879 crore. The domestic market continued its three-year average growth rate of 27.2 per cent by contributing Rs 73,135 crore, accounting for the rest of the revenue pie.

Catalysed by the emerging domestic BPO market, IT enabled services reported a growth of 48 per cent to touch Rs 5,400 crore. The domestic IT services market reached Rs 20,948 crore by reporting a 30 per cent growth. Packaged software industry witnessed a 19 per cent growth to touch Rs 8,053 crore.

The top 20 IT players recorded the highest growth rate in the millennium by recording a 44.3 per cent growth rate. With the top three players, Tata Consultancy Services [Get Quote], Infosys [Get Quote] and Wipro [Get Quote], bagging several large deals and expanding their consultancy business, the top 20 companies accounted for almost 77 per cent of the total software services exports.

Identifying the growth in the demand for high-end technology products, the survey showed that laser multi functional devices grew 69 per cent. LCD monitor sales increased 153 per cent in contrast to the sale of traditional CRT monitors, which reported a decline. Digital cameras also reported a robust growth of 112 per cent to reach the sales figures of nearly half a million.

By posting revenues of Rs 2,135 crore, the training sector also recorded a significant growth, as demand for training within corporations in India and overseas grew.

Internet penetration in the country continued to rise as the number of users (over 15 years of age and above) in the country touched 23 million during the year, with 9 million Internet connections, including 2.6 million broadband connections, according to Dataquest.