2014 Indian IT Sector Highlights

Though the first half of the year was challenging for various reasons beyond the industry’s control, the sentiment turned around and has been upbeat for the past six months, especially in the post-elections phase, with a stable central government in place, stakeholders said.

“We have seen enterprises and product firms stabilising, delivering more business value and bringing transformation to their clients overseas, using disruptive technologies such as cloud, big data, analytics, mobility, social media and the Internet of Things,” a top official of Nasscom told IANS in Bangalore.

“There is a dramatic shift in sentiment, as evident from positive perception of India abroad. Embracing new platforms, using different business models and competing with global firms has enhanced our industry’s value proposition,” said Nasscom president R. Chandrashekhar.

Coined by Harvard Business School professor Clayton M. Christensen, disruptive technology is described as one that displaces something that is already well-established and shakes up the industry with products and services that create a completely new industry. The computer displacing the typewriter is an example.

The $120-billion Indian IT industry comprises small, medium and large firms, including global software majors like TCS, Infosys, Wipro and HCL, captive units of multinationals and sectors providing software, hardware, process management, engineering, research and development, and innovative products.

Highlights of IT sector in 2014

  • Industry recovers from slowdown; sustains double digit growth * Adopts disruptive technologies and new models of engagements

  • Turnaround in sentiment and upbeat mood

  • Industry’s perception turns positive overseas

  • Re-structuring to keep pace with new technologies and demands

  • Software exports poised to touch $100 billion in 2014-15

  • Braces for Digital India programme and Make in India campaign

  • Generates 150,000 direct and 450,000 indirect jobs

  • Infosys co-founders exit, make way for new CEO.

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