US$400bn IT market

Software Development and Information Technology Enabled Services (ITeS, including BPO & KPO) industry had emerged as one of the most dynamic and vibrant sectors in India with a market value seen at US$400 billion by 2020.

“Electronic Market in India is one of the Largest in the World and is expected to reach US $400 Billion in 2020,” said #Union Finance Minister Arun Jaitley at a Pre-Budget Consultative Meeting with the industry on Dec 10, 2016.

The Indian IT-Software competence is recognised globally, he added.

The industry representatives responded with suggestions and issues about speed and penetration of broadband in India.

They pointed out that Number of #Wi-Fi hotspots is very low in the country, the industry pointed out, suggesting that over-ground towers and underground fiber cable network need to be improved in a big way.

At the consumer end, smart phone prices need to be further brought down so that broadband is more accessible to masses, said the representatives.

They appreciated that the green shoots are visible in smart phone manufacturing industry in India and manufacturing of these phones is increasing rapidly.

Also, street price of these India-made smart phones must be competitive when compared to China-made phones, they said, calling on local manufacturers smart phone to target the export market. fii-news.com