There is some good news for the sagging Indian information technology (IT) industry. The Indian IT market is expected to keep its growth momentum and is expected to grow on a compounded annual growth rate (CAGR) by 27.9 percent over the next four years to touch Rs 1,96,105 crore, according to global research firm International Data Corporation (IDC). The total Indian market (domestic and exports) witnessed a growth of 21 percent to reach Rs 73,219 crore in 2002, IDC said at its annual ‘Directions 2004’ here on Wednesday.‘‘Last few years has seen a sea change in the global IT and telecom industry. As the new macroeconomic and geopolitical reality reshapes the computing and communications landscape, IT vendors face new challenges,’’ Pradeep Gupta, MD of IDC India, said.He said the new reality was that the growth in the coming years would be limited to single digit.
