Social media, analytics, cloud and mobile platforms besides expanding into new territories other than the US and Europe would help the industry grow its business
More than any turnaround in major software services consuming countries like the US or Europe, the growth in business for Indian companies will come from the CMO (chief marketing officer) budget rather than the back office requirement of the corporate sector, according to Nasscom president Som Mittal.
Social media, analytics, cloud and mobile platforms besides expanding into new territories other than the US and Europe would help the industry grow its business even though the global economic uncertainties would remain in the current year, he said here recently.
Gartner last year had predicted that the CMOs would be spending more on IT than the chief information officers (CIOs) within five years as marketing has evolved into an IT-intensive department for demand generation and nurturing the customer base.
Last year, the Indian IT and software services industry reported $108 billion in revenues, including $85 billion exports of which the domestic players alone accounted for $76 billion, according to Mittal. Nasscom expects a two-fold increase in revenues to $300 billion by 2020.
The Nasscom president, however, said companies needed to become domain experts and deliver the services at the customer's doorsteps to tap into new business opportunities. "Industry is already building these capabilities," he said.
Recruitments may be lower this year
The IT industry in India is expected to recruit 130,000-150,000 people this year as compared with 180,000 jobs added last year. This is because some of the last year's recruitments pertained to backlog vacancies, according to him.
Nasscom ties up with Hyd investors
The industry body on Wednesday entered into an agreement with Hyderabad Angels and the Indus Entrepreneurs to jointly work on its recently-launched 10,000 start-ups programme. Nasscom has identified Andhra Pradesh as an important startup hub with almost 13 per cent of the new startups residing in the region and focused on technologies around product, mobility and cloud.
