Financial Daily from THE HINDU group of publications
Thursday, Feb 07, 2002
Financial Daily from THE HINDU group of publications Thursday, Feb 07, 2002 |
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Info-Tech
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Events McKinsey reiterates $50-b export aspirations Our Bureau
MUMBAI, Feb. 6 IN their preliminary findings, McKinsey, the global consulting firm, has reiterated the $50-billion target for the Indian software exports industry by 2008. To achieve that target, the industry would have to grow at a compounded annual growth rate of 30 per cent. Mckinsey's Principal, Mr Gautam Kumra, who made the presentation, said that it was achievable. A Nasscom-McKinsey study made in 1999 said that the Indian IT industry could aspire for a target of $50 billion. However, the reiteration came with a large proviso. The proviso was that Indian companies address the large unaddressed segments of the world IT services market. Importantly, the $50 billion export target would also include the exports of the MNC-owned units in India. Details regarding the demand estimates, segmentation of the IT services and the proportion that MNC-owned units would account for would be available when the final report is presented in April 2002. The areas that McKinsey said Indian IT companies should target were new verticals such as utilities, healthcare, retail, transportation; new services such as BPO, R & D services, Internet related services, mobile enablement and security and business continuity services; small and medium customers and new geographies such as Germany, France, Italy and Australia. The preliminary findings also indicated that Indian companies would need to simultaneously focus on five key near-term executional challenges and on six longer-term business models in order to sustain the next wave of growth. These imperatives included customer acquisition, key account management, alliances with system integrators, mergers and acquisitions and a stronger performance ethic.
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