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What are the new opportunities for tech industry in India?

July 5, 2021

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  1. The megatrends and associated tech spending shifts also presents extraordinary opportunities for technology service providers
    1. 90% of companies feel current business models will not serve them as digitalization accelerates
    2. The 3 Key technology growth drivers for the next decade includes- modularization of enterprise architecture, cloud adoption and industrialization of AI

                         i.   Overall tech spending will rise to USD 1.3 trillion by 2025.

                         ii.  Digital and cloud services spending will grow 2X in next 5 years, to ~USD 700 billion

                         iii. Digital product engineering services to grow 3-4X higher than traditional engineering services, to reach ~USD 270 billion by 2025  

 

  1. Technology services industry in India is in an unique position to accelerate growth
    1. Indian technology services industry can reach USD 300-350 Billion by 2025, and aspire to reach USD 500 Billion by 2030
    2. Outperformers in the industry will be those who rethink “where to play” strategies, build new service lines to serve DTX and ecosystem development opportunities, create differentiated IP led platforms, build partnerships around AI, cloud and cybersecurity, invest in talent and reimagine service delivery models to benefit from future of work trends.

 

  1. Achieving this potential will require significant collaborative call to action across stakeholders
    1. 4 key priorities- Create innovation ecosystem consisting of innovation clusters where talent and capital come together to create IP led growth, focus on building talent for high demand technologies, build brand India for cutting edge innovation, and drive domestic technology consumption

 

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