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| ITES
sector to generate $21 billion by 2008
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Shehla Raza Hasan
18 June 2002 |
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Kolkata: In a 2002 Nasscom-McKinsey study, which was released at the Indian IT and ITES Strategy Summit recently, the ITES sector is poised to generate $21 billion by 2008.
In 1999, Nasscom had engaged the services of McKinsey and Company to draw out a 10-year vision for the Indian software and services industry. The study had outlined a vision for India that created a national aspiration for all players at stake - the government, IT industry and Nasscom.
However, keeping in mind the dotcom bust and the slowdown in the US economy, Nasscom reengaged the services of McKinsey to help the battered IT industry revise its growth path.
According to the report, banking and insurance are likely to provide the maximum opportunity to the ITES sector, driven by the high cost-base and the high extent of offshorable processes in these verticals.
In addition to this, verticals like telecom, retailing, utilities, automotive and pharmaceuticals also offer large opportunities in the IT-enabled services sector, says the report.
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