SMEs give boost to IT
October 14, 2009 | COMMENTS ( 0 )
According to a research conducted by IDC, the IT industry in India has got a boost due to the fierce employment of technology by small and medium businesses (SMBs) in the country. The industry is expected to reach $37.6 billion by 2013.
Spending on IT in India will reach $22.6 billion by 2009-end, and is expected to grow 11.8 % till 2013, when IT as a percentage of gross domestic product (GDP) would increase from 1.8 % to 2.3 %.
The IT market will drive the creation of nearly 7,000 new businesses and 3.24 lakh new jobs between 2009 and 2013. The growth in the new companies would be led by small and medium sized locally owned organizations, the study said.
In 2009, spending on packaged software will be 12% of the total IT spending in 2009 and 45% of spending would be on IT employment that will be software-related.
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