Financial Daily from THE HINDU group of publications
Monday, May 27, 2002
Nasscom to unveil roadmap soon
V. Rishi Kumar
HYDERABAD, May 26
THE National Association of Software and Services Companies (Nasscom) and consultant McKinsey and Co, which have together revisited the software and services industry, have charted out a new perspective document which shows the way forward for the IT industry.
Over the last two years or so the IT industry has witnessed a remarkable transition following the economic slowdown further compounded by the events of September 11. This has necessitated the Nasscom and McKinsey to study the issues and address them in a different framework to present the right perspective for the industry.
In order to address the industry concerns, the Nasscom, which is hosting a major summit The Indian IT and ITES Strategy Summit 2002 at Hyderabad in June, is expected to unveil its perspective document which encompasses new issues covering the rapid strides made by the IT-enabled services segment.
The impact of the IT-enabled services has been projected to be quite substantial and this has been factored in the report that is to be unveiled during the forthcoming summit, it is learnt.
The earlier Nasscom-McKinsey report had unveiled a new vision for the Indian software and services industry and had projected that the Indian industry had the potential to breach the $50 billion export mark by the year 2008.
It had outlined the challenges and opportunities knocking at the Indian industry.
However, the business environment has deviated from the estimated lines due to slowdown and various other issues confronting the industry and new opportunities have opened up; but more importantly, competition has become a major cause for concern.
Factoring in these issues, the report is proposed to thrash out industry concerns.
This report is expected to lay down a roadmap along with suggestions for policy changes and initiatives that the services industry is required to address to brace up to the challenges and the efforts required to keep pace with the changing contours of the ITES segment, according to the President of Nasscom, Mr Kiran Karnik.
While addressing the implications of the emerging business environment, the summit is seeking to address the issues that the Government could address to make the industry function in a more conducive environment.
With competition from China and others such as Ireland, Nasscom seeks to address the industry's concerns by playing a catalytic role.
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