IT sector growth could slow to 10.8 percent in 2009June 21st, 2009 - 3:30 pm ICT by IANS
New Delhi, June 21 (IANS) The IT and IT enabled services (IteS) industry in India is expected to grow 10.8 percent to touch Rs.309,573 crore ($64 billion) in 2009, the slowest in the last five years, a report released here said.
“The domestic market is estimated to grow at 10.2 percent to touch Rs.109,406 crore, while exports will likely grow at 11.2 percent to cross Rs.200,000 crore,” the report by market intelligence firm IDC said.
According to IDC, the country’s IT sector expanded 14.4 percent in 2008 to cross Rs.279,000 crore.
The industry is expected to reach Rs.534,479 crore ($110 billion) in 2013, the report said.
“Though there are certain signs of a revival happening in the domestic arena, the spending may not begin to increase just yet. IT spending behaviour would remain conservative throughout 2009 due to uncertainty in the economic environment,” said Kapil Dev Singh, IDC India country manager.
“The hardware market will remain under pressure throughout the year, while the software and IT services markets will also be affected, though to a comparatively lesser extent,” he added.
The domestic IT and ITeS market growth projection for the period 2008-13 is expected to moderate to 15.8 percent as against the average annual growth of 25 percent recorded during 2003-08, the report added.
This phase of growth will see IT vendors helping enterprises design and deliver “new age” services to their customers by leveraging the existing IT infrastructure.
These shifts and changes in the technology-product-market landscape will be further shaped by the economic recovery through 2009-10 and is expected to build up in 2010 and beyond, IDC said.
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