India's IT industry to double revenues by 2012
India's information technology and IT-enabled services industry will more than double in size by 2012, led by a fast-expanding domestic market, according to a report released Wednesday.
The industry's revenues, including those from export markets, will reach 5.3 trillion rupees (132 billion dollars) in 2012, from 2.46 trillion rupees last year, said the report by market-research firm IDC India.
Two trillion rupees of that will come from a domestic market, which is growing at an average annual rate of 18.4 percent, outpacing overall industry growth of 16.5 percent, it said.
India's expanding economy, growing annually by nearly nine percent, is spurring domestic IT spending as companies upgrade technologies to stay competitive and consumers log onto the Internet on personal computers and mobile devices.
The forecast growth rates will be achieved on the back of the industry offering "innovative services to the evolving domestic buyers," said IDC India country manager Kapil Dev Singh in a statement.
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