INDIAN IT SECTOR TO TOUCH Rs. 1.75 LAKH CRORES

India's Information Technology industry is expected to touch the Rs 1.75 lakh crore mark by 2016, helped by rise in IT services and software segments, a report by Boston Consulting Group (BSG) said. "The domestic IT industry is expected to grow at 12 per cent over next 4 years, reaching a size of Rs 1.75 lakh crore by 2016, driven primarily by the services and software segments," the BCG-CII report added. According to the BCG-CII report on IT enablement of Indian business, the domestic IT sector was worth Rs 99,700 crore in 2011 with IT services contributing the largest share at Rs 49,400 crore followed by hardware (Rs 32,500 crore) and software services (Rs 17,800 crore). The report pegs IT services sector to grow at 14 per cent and touch Rs 96,600 crore by 2016 followed by hardware, that is pegged to grow at 6 per cent to Rs 44,400 crore and the software products segment is expected to grow at 14 per cent to Rs 34,400 crore by 2016, it said.

IT industry revenues set to cross $100 billion

India's IT industry is set to cross a milestone: revenues will exceed $100 billion this year. This achievement is better appreciated when one recalls that just 20 years ago, its size was only about half-a-billion dollars.

Now providing livelihood to about 10 million people (including 2.8 million directly employed), it is the largest recruiter in the organised private sector. It is also amongst the biggest foreign exchange earners for the country.
These figures convey the outstanding success of this sector; yet, its qualitative impact is, possibly, of even greater import. First, it has transformed the global image of India and Indians: today, both are seen as winners. Second, it has energised the country's higher education sector, especially in engineering and computer science.
Third, it has contributed to social transformation by providing lucrative jobs to lakhs from small towns and even villages and gender equality, through its extensive employment of young women. Finally, and most importantly, it has brought hope to young people, who - thanks to the opportunities in this sector - view the future with optimism.
The IT industry has conveyed that success is driven by education and work, not by family background or 'connections'. In the context of what is happening in countries in our neighbourhood, the importance of such a message of inclusion and hope is obvious.