Having shifted gears from its focus on ‘enterprise services’ to ‘enterprising solutions’ in 2015, Indian IT industry is betting big on digitization and automation to maintain its growth momentum in the New Year.
The $140-billion industry will also look for a helping hand from the entrepreneurial zeal of startups as it seeks to maintain its dominant position in the global market in 2016.
The industry maintained its growth trajectory despite some hiccups including due to headwinds from a slowdown in the global economy, problems related to the skilled manpower visa in the US and the unprecedented rains in Chennai where many giants including TCS and Wipro have their facilities.
As the focus shifted towards ‘enterprising solutions’, the large as well as smaller players including TCS, Infosys, Tech Mahindra and Mphasis incorporated SMAC (Social, Mobile, Analytics and the Cloud) to create client impact not only in terms of cost, but also for expanding their revenues, profit margins and cash flows.
The year 2015 started with the industry body lowering the growth forecast for the current fiscal to 12-14%, from 13-15% in the previous financial year.
The industry players are however not perturbed much by the lowering of guidance and said that the growth rate should not be looked at in isolation.
Govt.takes a slew of initiatives like Digital India, Skill India and Startup India — all aimed at making digital services the backbone for delivering citizen services. As part of the programme, the government is deploying fibre, taking Internet connectivity to the masses and training people to ensure that there is at least one computer literate in every household.
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