Mumbai, February 18, 2015: The National Association of Software and Services Company (NASSCOM) and The Boston Consulting Group (BCG) have released a report based on a year-long study capturing perspectives from all industry stakeholders to understand the role and expectations from the Indian technology and services industry and its journey over the last 25 years.
The report -- ‘India in Globalized Services: Innovating @ Scale’ - addresses the shift in customer expectations from efficiency to innovation and transformation, and highlights the transition of the industry over the years to become the 'partner of choice' for global enterprises.
In the last decade India’s role has evolved from an arbitrage & talent led provider to a transformative partner, delivering significant business impact. Innovation has been at the core of this journey as this industry was born out of innovation in the form of the Global Delivery Model. With revenues approaching $150 billion and a market share of over 50% and a workforce of over 3.5 million employees directly serving the industry, India is today at the epicenter of the global services space, consistently enabling customers in their transformation and innovation agenda.
Says R. Chandrashekhar, President, NASSCOM:“The impact of the Indian industry has been universal, across verticals, geographies and customer segments in delivering transformation and innovation. Customers are increasingly outsourcing business critical operations to India, and this trend will only accelerate further as the industry matures. The emerging eco-system of digital technology start ups and increasing collaboration is establishing India as a hub for innovation”. Talking about the study he further adds “Customers are expecting more collaborative partnerships in their transformation journey. The emerging consensus of value today pivots around effectiveness and business impact which includes the ability to drive innovation, fast track adoption of emerging technologies and enhanced competitive advantage”.
- Over the years expectations of customers have shifted beyond efficiency
- The top expectations beyond cost for customers include innovation and business impact
- India's role has evolved and in the last 5-10 years is increasingly delivering innovation and business impact
- R&D spend is growing, with MNCS R&D centers growing over 14% making India a source for path breaking innovation
- Third largest start up base estimated to grow 4X to reach 10,000 by 2020 driving 'innovation at scale'
- Co-innovation by players and corporate venturing to access innovation
LINK to download the full NASSCOM-BCG report for free