Important structural changes taking place on back of global economic meltdown are propelling a new 'market order' in the domestic Indian IT/ITeS industry, 'the Growth Phase 2.0'
According to IDC India, the domestic India IT/ITeS market will grow at 13.4 percent in 2009, the slowest since 2003.
The much awaited annual IT/ITeS market forecast suggests that important structural changes, taking place on the back of a global economic meltdown, will propel a new 'market order' in the domestic Indian IT/ITeS industry.
This new 'market order,' termed as Growth Phase 2.0, will be quite different from the earlier phase, Growth Phase 1.0 (2003-08), during which the domestic market witnessed unprecedented growth, nearly tripling the market size from Rs 34,000 crore in 2003 to Rs 1,01,031 crore in 2008, a CAGR of over 24 percent.
Growth Phase 2.0 will be an era of following dynamic strategy as any existing strategy will not remain effective for long and would need to be re-constructed.
Source: The Economic Times
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