Indian IT cos increase focus on domestic outsourcing

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Wipro Infotech, the IT arm of Wipro Technologies focused on India, West Asia and the Asia Pacific, recorded 46 per cent growth in revenues to Rs 2,483 crore for the fiscal gone by, of which about 91 per cent came from the India market.

TCS derived nine per cent of its total revenues of Rs 18,685 crore for the year from India.

This amounted to Rs 1,681 crore, a 1.5 per cent growth over last year.

Infosys derived close to Rs 197 crore (Rs 162.5 crore) from the Indian market, which accounted for 1.5 per cent of total revenues of Rs 13,149 crore for the year.

Various estimates peg the size of the Indian IT market at $12 billion, with an annual growth rate of 22-25 per cent.

Gartner estimates the global IT market at $1.1 trillion, with a growth rate of 4-5 per cent.

The India IT market grew at over 26 per cent in 2005 (including domestic BPO-ITeS), providing tremendous opportunities for IT and telecom vendors and service providers.

In 2005, India was ranked as the 18th highest IT spender and is expected to move to 13th position in 2010.

Taken from Business Line

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