Indian IT & BPM Industry Is Heading Towards Which Direction?

At this moment, every entrepreneur, like you and me, is thinking

  "Where are we going?"

 "What is Stored for us in the future?"

 No one knows what will happen in the future, but market experts can make predictions by analyzing the current state. From my experience and understanding of the IT and BPM industry, I have pointed out some facts that may help us predict the future of the IT and BPM industry in India.

 If you look at India's global sourcing market, it won't be difficult for you to understand that its growth rate is higher than the Indian IT and BPM industry. India is the most preferred sourcing country across the globe that accounts for approx 55% market share of complete global services worth US$200-250 billion in 2019-2020. IT and BPM companies have established over 1,000 global delivery centers in almost 80 countries around the world in our country.

 What Have We Achieved?

 Let's have a glimpse of our achievement in the 2019-20 sessions:

 The total number of employees grew to 1.02 million for the top four Indian giant companies (TCS, Infosys, Wipro, & HCL Tech) until December 2019. However, the scenario has changed by the sudden arrival of Corona virus. Layoffs are frequently taking place. Market analysts are expecting the total revenue of the IT and BPM industry to grow 8.1 percent y-o-y to US$ 147 billion in FY20.

 Though the profit scale is not pretty satisfying at this moment due to the prolonged shutdown following the Corona virus pandemic, market analysts are optimistic for the future. Indian IT and BPM industry has already proven its excellence in providing both on-shore and off-shore services to global market. Hence, we can expect our IT industry to grow to US$350 billion by 2025 and BPM to grow to US$50-55 billion.

 What's your take on this?

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