Indian IT market to grow by 18 percent

BANGALORE: The Indian IT market is expected to grow by 18 per cent to $38 billion in the present year, clocking second highest growth rate after China, which is likely to attain a 20 per cent growth and touch $138 billion mark, according to research data released by Forrester.
    
The research firm calls this double-digit growth as a welcome news for technology vendors, who see slackness in the US and European markets and advises them to recognise India as a consumer of IT than just a supplier.
    
The report 'The State Of A-PAC Enterprise Technology Adoption: 2008', gives highlights of data collected from 777 companies in the Asia Pacific region via Forrester's Enterprise Technology Adoption Survey (Asia Pacific, Q4 2007).
    
These 777 companies, which had a 1000-plus employee size, from countries such as Australia, New Zealand, India, Korea, Singapore, Japan and China participated in the survey.
    
Forrester's Senior Analyst, Jonathan Brown, who authored the report, said, "The IT sector has long looked to India for top-drawer technology talent. But India is poised to become an increasingly important market for technology vendors."
    
As rural India becomes increasingly developed and its engagement with the US increases and the population comes of age, India would become an important IT market, he added.
   
"It's time the tech vendors no longer treat India as merely a skilled talent pool but also as a lucrative market in its own right", he said.