I am not very comfortable about what these top management people, from every company, are saying these days. Everybody is saying that we should do innovation. is that possible. Are, we Indians, actually groomed for innovation at all?
Currently Indian economy is growing at a pace of 9%. With its GDP of about $800 B, its the 4th largest Economy. Contribution of IT sector stood at around 4.5% in the last fiscal. Sramana Mitra has given some good numbers about this here - http://sramanamitra.com/2007/02/09/need-product-companies-for-indias-growth/
However question still looms large over Indian IT industry. Are we becoming innovation friendly? Certainly there have some laudable efforts in this direction but more needs to be done. We ave only one proto.in that brings people together. most of the companies like to work in service mode. Even the product companies here are working as poor cousins of their US counterpart.
How many products have been developed from scratch and built in India. I am talking about inception till support. Often I hear people in my office say that we need to prove ourselves to US management to get the "GOOD" work.
So called GOOD work comes in patches. At one en these companies are saying that we are coming to India because of the potential and on the other hand they feel that Indian need to prove themselves again and again.
NASSCOM puts IT/ITES revenues at 70B by 2009. That would be roughly around 6% of India's GDP. But i feel that these figures would need to be changed. Most of our IT industry is service based and appreciating rupee will have a major effect.
Unless until we start catering to India and start becoming independent of US Economy - i feel that days do not seem as rosy as they have been in past.
