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Projections

With a compounded annual growth rate of more than 50% between 1991 and 1999, the Indian software sector has expanded almost twice as fast as the world leading US software industry did during the same period, though from a smaller base.

India's software industry statistics stand testimony to the massive strides achieved by this sector and the opportunities that lie ahead in the future. According to Nasscom (India's National Association for Software and Service Companies) estimates for the fiscal year 1999-2000, the country's software industry was worth $5.7 billion, up from $5 million ten years ago.

In 1999-2000, software export figures have crossed the US $4 billion milestone and the domestic software market fetched revenues of $1.7 billion.

The best however, is yet to come in terms of growth, predicts a study conducted by renowned consultancy firm McKinsey and Co., for Nasscom. According to this study, the Indian software industry is expected to gross $87 billion in 2008, with $50 billion coming from exports!

India is best positioned for cross border IT services

NASSCOM-McKinsey study 1999: It is said that India is far ahead of China, Philippines, CIS, Mexico and other countries in providing  high quality software vendors, software professionals and skill sets.

Not only will the market capitalization of the industry increase substantially, the sector will also account for 7.5 percent of the overall GDP growth in India in 2008. The report also projects that this industry will employ an additional 2.2 million knowledge workers by 2008.

The pictures being painted by the Nasscom-McKinsey report are extremely positive and not without justification. India, with its impeccable credentials in the world software markets, is being increasingly sought by foreign organizations for their state-of-the-art skills and services. Besides making inroads into foreign client bases, Indian companies are also establishing an identity on the overseas stock markets, particularly in the US. Key Indian software companies such as Infosys Technologies, Satyam Infoway Ltd., Rediff.com, and Silverline Industries are listed on prestigious stock exchanges including the NASDAQ and the NYSE.

In yet another move, more than 203 Indian software companies have already set up operations in the US. This has helped bring Indian software companies closer to their US-based customers.

Take Majesco Software Inc., a part of India's celebrated software company Mastek, a US $57.5 million (April 1999 to March 2000) global software services organization, which has subsidiaries serving clients worldwide.

Based in Silicon Valley for over a decade, Majesco has been catering to its global clients from its base in the US. It's adding to the competitive edge of its customers by providing off-shore software development expertise through its highly acclaimed facilities in India.

The company is focused on areas such as CRM/ECRM where the company goes beyond the scope of just implementing a front office/CRM solution. Majesco approaches any CRM integration project as part of a larger puzzle, which embodies the client's vision of market leadership. It is one of the few software service companies in the world that has the capabilities to address all elements of a CRM application integration engagement. Majesco's CRM application integration services include implementation and integration of products from leading vendors ‹ BroadVision, Clarify, Siebel and Vantive.

The company has an excellent track record of success in "applications management" covering applications development, integration, enhancement and maintenance. Majesco has seamlessly and successfully joined the dot com revolution. Several projects based on both Open Systems and Microsoft Technologies have been undertaken by the company. These projects are for start-up dot coms as well as for traditional organizations. The company is providing the whole gamut of services ranging from development, enhancements, interfaces, integration, testing to content management.