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IT Cos Records 19 Percent Growth in Revenue to 
438,296 Crore
Thursday, 13 October 2011, 23:19 IST
KOLKATA: The Indian IT industry recorded 19 per cent growth in revenues in the 2010-11 financial year to 
438,296 crore ($96.1 billion).
The growth is a significant recovery for the industry, which recorded just 8 percent growth in 2009-10 in the wake of the global recession in 2008, which made both global and Indian companies cut back on their IT spending.
The figures were compiled by IT industry magazine Dataquest, the flagship publication of media house CyberMedia, which conducts an annual research study on the state of the industry.
According to the findings, exports accounted for two-thirds (66.4 percent) of the industry's revenues, while the domestic market accounted for the remaining one-third (33.6 percent) in 2010-11.
However, revenues from the domestic market experienced higher growth than exports in the financial year. Domestic IT revenues grew by 23 per cent to 147,152 crore in FY'11, while exports clocked 17 percent growth to 291,144 crore.
While IT services exports grew by 21 percent in FY'11 (compared to 6 per cent in FY'10) and engineering services exports grew by 22 percent (compared to 6 percent in the previous year), BPO exports growth slowed down to just 7 percent, compared to 13 percent in the previous fiscal.
Total services exports from India stood at $64 billion in FY'11, including IT software/services and BPO.
"The slowdown in 2009 and 2010 made the industry more efficient and mature. With the growth now back, the Indian IT industry can look forward to more depth, innovation and global spread in 2011-12," said Pradeep Gupta, the Chairman of CyberMedia India.
Hewlett-Packard India was the largest IT player in the domestic market, while TCS was the largest exporter from India and also the largest company across all categories.
Within the Indian domestic market, computer hardware sales jumped by 28 percent. Software and services revenues grew by 19 percent each, clearly indicating that enterprises have resumed their spend on new infrastructure creation and hardware replacement.
Source: PTI
438,296 crore ($96.1 billion).
The growth is a significant recovery for the industry, which recorded just 8 percent growth in 2009-10 in the wake of the global recession in 2008, which made both global and Indian companies cut back on their IT spending.
The figures were compiled by IT industry magazine Dataquest, the flagship publication of media house CyberMedia, which conducts an annual research study on the state of the industry.
According to the findings, exports accounted for two-thirds (66.4 percent) of the industry's revenues, while the domestic market accounted for the remaining one-third (33.6 percent) in 2010-11.
However, revenues from the domestic market experienced higher growth than exports in the financial year. Domestic IT revenues grew by 23 per cent to 147,152 crore in FY'11, while exports clocked 17 percent growth to 291,144 crore.
While IT services exports grew by 21 percent in FY'11 (compared to 6 per cent in FY'10) and engineering services exports grew by 22 percent (compared to 6 percent in the previous year), BPO exports growth slowed down to just 7 percent, compared to 13 percent in the previous fiscal.
Total services exports from India stood at $64 billion in FY'11, including IT software/services and BPO.
"The slowdown in 2009 and 2010 made the industry more efficient and mature. With the growth now back, the Indian IT industry can look forward to more depth, innovation and global spread in 2011-12," said Pradeep Gupta, the Chairman of CyberMedia India.
Hewlett-Packard India was the largest IT player in the domestic market, while TCS was the largest exporter from India and also the largest company across all categories.
Within the Indian domestic market, computer hardware sales jumped by 28 percent. Software and services revenues grew by 19 percent each, clearly indicating that enterprises have resumed their spend on new infrastructure creation and hardware replacement.
Source: PTI