National Association of Software and Services Companies (NASSCOM) President R Chandrashekhar today said the outlook for the IT sector was positive in the times to come.
"I think at this point it will be fair to say – yes qualitatively we certainly expect it to be better.....but how much better- it is too early to say," Chandrashekhar, who became NASSOCM chief recently, told reporters here.
Also read: Gartner lowers global IT spending growth forecast
He said: "It is not going to be dramatic step up, but definitely I think the outlook is positive and we do see that the direction of change is up, not down."
Nasscom had estimated 12-14 percent growth for the Indian software services industry in FY'14, and it aimed to achieve revenue of USD 300 billion for the IT industry by 2020.
Chandrashekar said "It is fine to say that we will grow from USD 100 billion to USD 300 billion, but it is not just about numbers- it is about how much of a transformation can be effective, what kind of changes can be brought...."
".....how do each of these ecological evolutions that are taking place with the emphasis on IPs, platforms, new technologies like social media, cloud, analytics and mobility will have the potential to transform different sectors be it- financial service, health services, education services...."
Stating that technology is evolving very quickly, he said: "Our ability to absorb them and use them in meaningful way- is where we are couple of steps behind.""It certainly requires qualitatively different approach and a much greater degree of collaboration and interaction across different sectors," he added.
Pointing out that the industry is growing, he also acknowledged the presence and growth of entrepreneurial companies, the ecosystem which is supporting them, and their contribution in transformation.
Chandrashekhar said "what is happening apart from growth today is- there is very powerful ecosystem of start ups, innovative companies, entrepreneurial companies and the whole ecosystem involved in that."
"There are lot of these entities which are devising new products, new services, new innovations both business and service innovations; further heartening element is that....they are related to problems that exist in our society and our economy," he added.
Noting down the focus areas before Nasscom, he said one of the major focus area will be- "how to grow and accelerate the growth of innovative ecosystem, entrepreneurship, products and IP; how can the domestic market be used to reinforce that; and how can that be plugged into the international market."
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