Hyderabad, March 03: With increasing mobile penetration, mobile internet is likely to ramp up faster than desktop internet, according to B V R Mohan Reddy, chairman & managing director, Infotech Enterprises Ltd.
Giving the inaugural address at the two-day ‘Advantage AP conference’ organised by the government of Andhra Pradesh (AP) and ITsAP, he said, “The IT industry grew ten times in ten years. Global sourcing, the new word coined for outsourcing, is now growing at ten per cent.
Globally, the sector is set to grow $175 billion by 2020, while the domestic market is expected to touch $50 billion.” Software exports from India are set to touch $60 billion this year, while the domestic market is estimated to be $15 billion. Reddy explained that the growth is expected to come from increasing spending besides business potential from new verticals, geographies and new service offerings.
He said that the global defence and aerospace sector is registering an impressive growth and that the Indian defence segment is encouraging domestic private players in engineering services to collaborate.
Meanwhile, over 1,000 delegates attended the conference with the theme, ‘Andhra Pradesh is the Most Preferred IT Destination for IT & ITES Sectors,’ and over 200 companies showcased their products and solutions.
Ratna Prabha, principal secretarty, department of IT &C, GOAP said, the state was probably the first to declare IT & ITES sector as an essential services industry besides unveiling preferential policies for small and medium IT & ITES companies.
She said that the sector employs more than 2.5 lakh people directly and another 9 lakh indirectly.
–Agencies