Financial Daily from THE HINDU group of publications
Friday, Sep 13, 2002
Industry & Economy
Info-Tech - Outlook
`Growth in IT sector holds prospects for more jobs'
(From left to right): The West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, along with Mr Deepak Parekh (partially seen), Chairman, HDFC Ltd, while Mr Sam Pitroda, CEO,WorldTel, lights the lamp at the inaugural session of the All-India Management Association's 29th National Management Convention in Kolkata on Thursday. Dr J.J. Irani, Director, Tata Sons, is at extreme right.
KOLKATA, Sept. 12
THE IT Enabled Services (ITES) alone is likely to create new employment opportunities for around 12 lakh qualified youth in the country, and the Nasscom-McKinsey projection for 2010 has put the total IT revenues of India at over $ 70 billion, of which around $ 24 billion will be in the ITES sector.
Inaugurating the 29th National Management Convention organised by All India Management Association (AIMA) in collaboration with Calcutta Management Association (CMA) here today, Mr Buddhadeb Bhattacharjee, Chief Minister of West Bengal, said in the context of the ITES projections, the vision of West Bengal was to rank among the top three States in terms of IT revenues in the country, accounting for 15-20 per cent of the total business turnover.
Despite the slowdown in global economy, the growth in the IT sector in India holds out prospects of a bright future, he pointed out.
The vision plan envisaged creation of opportunities for providing employment to two lakh youth in the ITES sector and one lakh youth in IT services in the State by 2010.
He said that the strategy drawn up for IT development was based on three specific initiatives in the areas of promotion of investment in IT, enhancement of computer literacy in schools and colleges, and introduction of e-Governance to make functioning of government more efficient and transparent. "We value the importance of moving towards `good governance', a goal which can be achieved by making the Government responsive to the needs of the masses.''
The Chief Minister pointed out that an important component of this endeavour will be the G2C (Government to Citizen) interaction in the computer-aided electronic medium. Suggesting that the role of management in the 21st century was proving to be vastly different from that in the 20th century, he said the new economy was now laying stress on the need to evolve "management of change'' and to absorb the impact of IT on the process.
Following rapid developments in information and communication technologies, emphasis has shifted to the formulation of strategies which will help companies to adapt to changes in various lecels of industry and business, he added.
He told the gathering of industrialists and management experts that in the context of the global economy, a consensus needs to be developed on the bench-marking of "good corporate governance".
Managements, he felt, should be made more responsible to the investors and shareholders. "While all of us are talking about the need to make Governments more transparent and accountable, there is a concurrent need to evolve normative yardsticks for good corporate practices in our country.''
He also advised the corporates not to diffuse the focus on self-reliance in their efforts to maintain links with the emerging global economy.
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