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Indian IT pushing the limits, on the cusp of a digital leap

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By DK AggarwalIndia’s $154-billion information technology sector emerged as a top bet in the year gone by amid heightened market volatility.

With the adoption of emerging technologies such as artificial intelligence (AI), machine learning and robotics for automation, the sector appears to be on the cusp of another major leap forward.

The nature of business of IT companies has changed, and digitisation and automation have led to a change in role dynamics.

Besides, IT firms are shifting from standalone and in-house-based hosting to cloud- and SaaS-based collaboration and productivity solutions as well as Platform as a Service (Paas). India holds a prominent position for its capabilities in outsourcing of IT services.

It accounts for about 67 per cent of the global outsourcing market.

Now, domestic IT companies are focusing on big investments in automation and artificial intelligence.

Many Indian IT companies have calibrated from being the back office of the world to being at the forefront of change, helping clients optimise operations and remain ahead of competition.

An increased focus on catering a better customer experience is increasing spending on enterprise application software.

If data are to be believed, India’s software services export is expected to see revenue growth of 7-9 per cent in constant currency terms in 2018-19. Digital transformation is driving the industry and creating demand for new roles.

The focus on digital business is being crystal clear for the industry at large.

Digital tailwinds are likely to keep the global sourcing market on a strong growth.

IT spending in India continues to be driven by digital business transformation initiatives from both private and public organisations.

Initiatives such as adoption HPE Green Lake are likely to accelerate clients' digital transformation.

To note, India's digital revenues grew at 30 per cent in FY18, demonstrating the base for a solid foundation in digital capabilities built by the sector.

ISG, a leading global technology research and advisory firm, has forecast that the market for cloud-based services will grow 25 per cent globally in 2019, based on persistent corporate demand for digital transformation. Tata Consultancy Services, Wipro, Cognizant, Infosys, LT Technology Services and LT Infotech are some of the IT companies that are expected to see good growth, going forward. Chairman Managing Director,SMC Investments and Advisors Limited




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