2020 to see Indian IT mark $285 reports KPMG

Representing 15,000 companies in Asia and Australian continents, KPMG and Asia Oceanic Computing Industry Organisation, reported that the Indian IT and ITES sector could become a US$285-billion industry by 2020 from US$71.6 billion in 2009. The industry is expected to grow at a compounded annual growth of 15 % in the next 10 years. According to the KPMG-ASOCIO report India will continue to lead in global sourcing activities.

And the region will become the largest supplier of IT and IT-enabled services by 2020, with 74.5 % of the global demand is expected to be sourced from the region. KPMG said that the countries should look at collaborations to tap the opportunities globally and within the region. The report was released at the three-day Nasscom meet on February 9, 2010 by Ashank Desai, President of ASOCIO.