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India on track to reach $60 Billion in Software Revenues: Som Mittal, President of NASSCOM February 13, 2008
At the inaugural session of the NASSCOM Leadership Forum, Som Mittal, President of NASSCOM, said the words that must’ve induced a lot of confidence amongst the predominantly high IT audience. He said that India is well on its way to reach the projected target of $60 Billion dollars in revenues by 2010.
He said that that this will happen in spite of the touch challenges that the industry is facing. The weakening of the dollar, rising salaries, poor infrastructure have been posing a challenge and the industry is adapting fast by diversification. Not only are companies diversifying into other services and vertical specializations, they are also diversifying geographically. No longer is the US the dominant revenue source. Europe and Asia is being actively scouted. Companies have also started to realize the potential of the domestic market. This helps the companies cushion from the impact of downturn in the economy.
