Will take 5-7 years to touch another $100bn: IT stalwarts

It took 20 years for the Indian IT industry to touch the coveted USD 100 billion mark. However, the next USD 100 billion will only take five to seven years. That's the word coming in from National Association of Software and Services Companies (NASSCOM). 

Also Read: Positive Outlook For IT-BPM Industry In FY 2014: NASSCOM Below are the excerpts of CNBC-TV18’s Shereen Bhan chat with some IT industry leaders. Som Mittal, President, NASSCOM said, "For us it is not only about share of the wallet of the same customer, it is also expansion of the customer. That is what is going to drive our next USD 100 billion." Mittal said technology is the basic fulcrum on which transformation is taking place -- the biggest driver. "We have added USD 13-15 billion in one year; compared to the 20 years to get to USD 100 billion. We are not going to take that much time to get to the next USD 100 billion." He believes it could take less than a decade to touch the next USD 100 billion. When N Chandrasekaran, MD & CEO of TCS was asked what would be the key levers for the IT industry to touch the next USD 100 billion he said, "If you take a USD 13-15 billion this year. I don’t think in absolute term that number will come down. To do the same USD 13-15 billion in the following year, we need a slightly lesser growth rate." Answering a query on what will be the opportunities that Indian IT needs to capitalise on and emphasise on at this point in time, he said, there are many such opportunities. He further added, "In terms of opportunities I think there are lot of trends that are happening. We talked about digital; definitely, this whole consumerisation of the enterprise and enterprisation of the consumer. I think all the technologies from both ends are coming together." He further said, "Analytics is playing a part on both sides. Social, is playing a part in both sides. So, there will be a lot of products, solutions, platforms." Answering a similar query, Vineet Nayar, VC & Jt MD, HCL Tech on an optimistic note said, "Leverage of technology, Social, Mobility, Analytics and Cloud (SMAC) or whatever it is, is actually not part of the USD 800 billion kitty. It is part of another USD 800 billion kitty. Our ability to leverage this technology and offer to that segment a completely different proposition, not the IT proposition is going to be the critical success factor for us to get that not in seven years, but in five years."