The projections about the size of India's IT industry present a very optimistic picture. Theindustry is expected to grow to double its current size by the year 2012. India's IT industryis expected to grow at an annual average rate of 18% in the next five years. The industry isalso expected to cross the 100 billionUS Dollar mark by 2011. One of the major areas of growth for the IT industry of India is by tapping the potential in the domestic market. The ITindustry of India is largely dependant on the export market. Penetrating more into thedomestic market would create further opportunities of growth for the IT industry.Adoptionof new liberal policies in India has given birth immense opportunities to its industries.Success story of India's
is a step in the same direction.The
, which is a main component of the Informationtechnology,has brought tremendous success for the emerging economy.India's young aged manpower is the key behind this success story. Presently there are morethan 500 software firms in the country.
Worldwide IT Spending to Grow 5.3 Percent in 2010
Unseasonably Strong Hardware Sales in First Quarter Sets Up 2010 for Solid IT SpendingGrowth Worldwide IT spending is forecast to reach $3.4 trillion in 2010, a 5.3 percentincrease from IT spending of $3.2 trillion in 2009, according to Gartner, Inc. The IT industrywill continue to show steady growth with IT spending in 2011 projected to surpass $3.5trillion, a 4.2 percent increase from 2010."Following strong fourth quarter sales, an unseasonably robust hardware supply chain in thefirst quarter of 2010, combined with continued improvement in the global economy, sets up2010 for solid IT spending growth," said Richard Gordon, research vice president at Gartner."However, it's important to note that nearly 4 percentage points of this growth will be theresult of a projected decline in the value of the dollar relative to last year. IT spending inexchange-rate-adjusted dollars will still grow 1.6 percent this year, after declining 1.4 percentin 2009."Worldwide computing hardware spending is forecast to reach $353 billion in 2010, a 5.7 percent increase from 2009 (see Table 1). Robust consumer spending on mobile PCs willdrive hardware spending in 2010. Enterprise hardware spending will grow again in 2010, but