The Hindu Business Line : `Products, tech services market to grow to $ 8-11 b'

THE product and technology services market in India is estimated to grow to $8-11 billion by 2008, thus indicating the plethora of opportunities on anvil for players, according to the National Association of Software and Services Companies (Nasscom).

"The Indian software and services industry's strong value propositions such as low development costs, large development skill pool, mature quality control systems, proven offshore model and growing domain skill, continue to hold India in good stead in the product development space," according to a Nasscom report released at a panel discussion on `Offshore Product Development'.

It said that the IT industry export revenues from product and technology services have grown to Rs 166 crore in 2002-03 from Rs 121 crore in 2001-02, registering a growth of 37.2 per cent. Its share in the total software and services exports has risen from 15.8 per cent in 2001-02 to 17.4 per cent in 2002-03.

It cited a recent report by Frost & Sullivan which notes that research and development (R&D) outsourcing market for information technology in India is estimated to grow to $9.1 billion by 2010 from $1.3 billion in 2003, at a compounded annual rate of 32.05 per cent.

Nasscom said the main driver for the emergence of the Offshore Product Development segment has been enormous pressure on product companies for faster time-to-market, coupled with the need to introduce new products and new technologies in newer markets.

More Stories on : Outlook | Software | Industry Associations

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Reach, VSNL oppose integration of Flag, Falcon

BPL Mobile hopes to double subscriber base in 6 months

Airtel plans to cover 55 more towns in Karnataka

Reliance Info launches fixed wireless telephony

PC sales grow 37 pc in first half

Satyam sets up grid computing facility

Bell Labs opens Bangalore R&D unit

Wipro to set up integrated centre at Bhubaneswar

Nasscom signs MoU with Pak counterpart

Interra plans Bangalore centre

Cos gearing up for major share of e-learning pie

Software Test Manager course

Sterling Commerce to buy Yantra Corp

Four Soft enters China through joint venture

SoftPro to service JBoss wares

`Products, tech services market to grow to $ 8-11 b'