A Recent report by Forrestor - State Of A-PAC Enterprise Technology Adoption: 2008 brought some good news for technology vendors in India. Yes, after a disappointing show due to the slowdown in US, Forrestor expects Indian IT market to grow by 18% to USD 38 billion only second to China, which is expected to grow by 20%.
The report which has covered data from 777 companies in Asia Pacific Region, has placed India as an important market not as a supplier but also as a consumer. With the rural areas in India all poised for a phenomenal growth, Forrestor's Analyst Jonathan Brown places India as an important market for technology providers.
On the same date, Infosys founder and Chief Mentor Narayana Murthy stated that they are looking to work more in Europe. Over past few years Infosys has increased their revenues from European Market to around 28% and is looking to take that figure higher. Infosys is one of the only Indian IT company which has completed "ignored" Indian IT market and Forrestor Report signs "problems" for them. When TCS, Wipro and HCL has been able to mark a strong hold on the Indian market, Infosys late entry in this geography can prove fatal and considering the growing importance this would cost dearly to Infosys.
But considering Infosys & its ability to bounce back (it is the youngest IT co. of the lot), I wont be surprised if it has some strategy up its sleeves. All said and done, my personal belief is that Infosys should mark its debut in this developing market - India.
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