Indian IT market to grow at 21.5%, beat Asia-Pac peers.
Economic Times (New Delhi, India), January, 2007
Jan. 3--NEW DELHI -- India's domestic IT market, including hardware, software and services, is expected to grow 21.5 percent during 2007 to touch Rs 75,891 crore, making it the fastest-growing market in the Asia-Pacific region. According to global technology consultant IDC, the domestic IT spending during 2006 is estimated at Rs 62,456 crore, a year-on-year growth of 22.4 percent.
"Due to the rapid growth of the Indian economy, many global giants have entered India to set-up businesses, thus putting immense pressure on domestic enterprises to stay competitive. One major challenge right away is that the IT infrastructure of the incumbent companies, lags behind these foreign entities.
Consequently, a major wave of IT investments has started to take...
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