NASSCOM Aims to be a 'Market Creator' for Indian Tech Companies

By Eric Ernest Jan 7th 2014
NASSCOM Aims to be a 'Market Creator' for Indian Tech Companies
The new NASSCOM president Chandrashekhar, while charting out the vision for the industry association in 2014, spoke about how the Indian IT industry is well placed to achieve the aspiration of becoming a $300 billion industry by 2020.

NASSCOM's new president R. Chandrashekhar said that the association will strive to be more than just a policy advocacy organization and reinvent itself as a body that can ‘create a market’ in the domestic sector. Chandrashekhar, who is the former telecom secretary, was addressing the media in Bangalore, for the first time after taking over as NASSCOM president last Sunday.

Krishnakumar Natarajan, Chairman of the body that represents the Indian IT and BPO industry, said that the key focus of NASSCOM in 2014 will be on areas like engineering and R&D services and global in-house centers.

Chandrashekhar, while charting out the vision for NASSCOM in 2014, spoke about how the Indian IT industry is well placed to achieve the aspiration of becoming a $300 billion industry by 2020. Chandrashekhar, adds that given the global shortage of skilled workers, “India is a natural fit to fill in the gaps and provide the skills that are required to carry out the necessary transformation.” The association will be partnering with players in various industries to co-create new opportunities through a collaborative effort.

Chandrashekhar, who took over from Som Mittal this last Sunday, spoke about how he is leading the association when the industry is at an inflection point.

“This is not just a numbers game but it’s about what kind of changes can be brought about in how the business is conducted,” he said. The association will continue to accelerate its efforts towards developing innovation, IP and entrepreneurship in the country.

Replying to a question about how emerging markets would contribute to this industry revenue, Chandrashekhar points out that, while their needs are different from those of developed nations – such as having a greater emphasis on mobile business – once momentum starts building up in these countries, their markets will provide more opportunities for Indian IT organizations to leverage.

NASSCOM, which as Chandrashekhar puts it, represents an industry that has grown from generating $100 million in revenue to $100 billion in 20 years, works in 120 countries, and services 400 out of the Forbes 500 Global companies. All in all, this makes for a “very powerful ecosystem” to work out of.

Chandrashekhar also pointed out some of the major areas NASSCOM was looking to address, such as in maintaining the industry growth rate as well as accelerating the growth path and getting the domestic stakeholders to set up a stronger ecosystem that will meet the growing global technology demands.

NASSCOM is not only enabling IT companies, but also helping the countries they operate in to develop and benefit – “A win-win situation, where Indian companies will gain along with others.”

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