India accounted for 55% of global IT and ITES sourcing market

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India accounted for 55% of global IT and ITES sourcing market
According to the National Association of Software and Services Companies (NASSCOM), India continues to be a premier destination for the global off-shoring market of Information Technology and Information Technology Enabled Services (IT-ITES), accounting for almost 55 per cent of the total global sourcing market in 2013 as compared to 51 per cent in 2009, a release from PIB states.

"Certain Asian and Latin American countries have also emerged in this Sector and are steadily gaining momentum as destinations for IT-ITES investments. However, India's unique value proposition of a mature customer focused industry, domain experience, large pool of talent and proven track record has ensured that India remains at the centre stage of most global sourcing decisions," the government release states.

Giving this information in written reply to a question in the Rajya Sabha on Friday, Milind Deora, Minister of State for Communications and Information Technology, said that Indian industry with high value add exports remains to be competitive. The individual firm wise competitiveness data is not maintained. However, the Indian IT-ITES industry revenue (Exports + Domestic) has registered progressive growth over the last five years.

Read more about: information technology
Story first published: Saturday, February 22, 2014, 7:29 [IST]
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