'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
An analysis of 64 large deals awarded at the start of the decade reveals that more than half witnessed some restructuring or renegotiations.
The Indian software and services exports are expected to touch the $40 billion mark in FY08 ($31.3 billion in FY07), contributing nearly 64 per cent to the overall revenue aggregate (including software exports, domestic and BPO segments), according to IT trade body Nasscom's Strategic Review 2008.
The Indian IT-BPO sector, both in exports and domestic business, is expected to register a growth of 28 per cent in 2006-07 and revenues are likely to exceed $47.8 billion, nearly a 10-fold increase over the aggregate revenue in 1998.
Continuing with the remarkable double-digit growth, Indian IT and ITeS revenues is expected to exceed $28 billion in 2004-05 from $21.5 billion in 2003-04 with ITeS-BPO as the fastest growing segment in the wake of changing global services landscape,
Accounting for a meagre 0.2 per cent of the global sales in 2002, India's software product revenue in 2002-03 touched Rs 1,000 crore (Rs 10 billion) with exports accounting for 60 per cent, according to Nasscom Strategic Review 2004.
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.