"The India domestic IT and ITeS market is expected to cross the Rs 2,00,000-crore (50 billion dollar) mark in 2012. This translates into a CAGR of 18.4 per cent in the five-year period. It was Rs 90,014 crore in 2007," IDC said.
Together with IT and ITeS, and exports revenue of Rs 3,20,278 crore, the total IT and ITeS industry would grow to Rs 5,29,976 crore (132 billion dollar) by 2012, representing a growth of 16.5 per cent, said IDC.
Exports continue to be the biggest segment at Rs 97,492 crore. In 2008, IDC expects the IT and ITeS industry to grow at 20 per cent, with the domestic market growing at 22.4 per cent.
The overall industry is projected to be of the size of Rs 5,29,976 crore, or 132 billion dollar, by 2012-end, with the share of domestic IT and ITeS revenues being 40 per cent of the total compared to the current 37 per cent.
The IT and ITeS exports market is likely to more than double to Rs 3,20,278 crore in 2012, IDC claimed. In 2008, IT and ITeS exports segment is expected to clock a growth of 20.4 per cent to touch Rs 1,86,142 crore.
"The domestic IT and ITeS industry CAGR of 18.4 per cent (during 2008-12) is expected on the back of a robust growth of the past five years (2003-2007), IDC India Country Manager Kapil Dev Singh said,
The Indian IT and ITeS industry grew to Rs 2,46,609 crore in 2007 from Rs 2,01,413 crore in 2006, representing a growth of 22.4 percent.