| IT/ITES |
The Indian IT-ITES industry grew at a CAGR of 16% from Rs 2,53,400 crores in 2008 to Rs 4,63,900 crores in 2012. It is expected to grow at a CAGR of 13% over the period FY 2012-15 on account of domestic as well as outsourcing demand.
Marquee transactions in the recent past included Tech Mahindra's acquisition of Satyam Computer Services (USD 1,400 Mn), UK based international services Serco's acquisition of Indian BPO company Intelenet (USD 634 Mn), Genpact's acquisition of Headstrong (USD 550 Mn) and NTT's acquisition of Netmagic Solutions (USD 128 Mn).
Exports of software and services account for ~68% of the industry’s revenues. US and Europe are the biggest export destinations while Banking Financial Services and Insurance industries account for the largest share of exports. Revenues generated in the domestic IT-ITES market are small as compared to the total revenues generated by the Indian IT-ITES industry. Domestic IT-ITES revenues increased at a CAGR of 14% from Rs 88,600 crores in 2008 to Rs. 1,47,500 crores in 2012.
Indian companies are lowering dependence on high volume but low value application development services and moving towards high value services such as IT consulting and engineering services. The Companies are also gaining capabilities to enhance their value chain by expanding into BPO and infrastructure management services. The global outsourcing market recorded a healthy growth driven by record contracting activity in small size deals, as clients aim to conserve cash flows and at the same time try out new models and service offerings. This decisive shift towards smaller contract deals is also expected to get a boost with strong growth from the EMEA region. Even in the face of stiff competition from other locations, India retains its position as the world’s leading global sourcing destination for IT-BPO services with a share of 58 per cent in 2011. |
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