Global consultancy firm Deloitte on Tuesday said Indian IT services industry is undergoing a structural transformation and is poised to dominate the global IT space after recovery sets in.
"The profile of the Indian IT industry is undergoing a paradigm shift and after economic recovery sets in it will emerge as a dominating player in global IT space," Deloitte India Principal Economist Shanto Ghosh told reporters.
"Economic recovery globally is likely to come in by the second half of the next calendar year, "Ghosh added.
According to the Deloitte whitepaper, the Indian IT-BPO industry is now at a critical point in its evolution and moving forward it faces a transforming macroeconomic environment, rapidly changing customers, evolving services and rising stakeholder aspirations.
"These forces are expected to redefine the nature of demand and supply for the industry, and also redefine the strategic imperatives for businesses in 2009," the report stated.
The report added that the global slowdown has affected business climate within the country and the growth rate of the IT and IT Enabled Services sector is experiencing tremors of the downturn.
Indian IT sector derives about 61 per cent of its revenues from the US-based clients, hence impact of slowdown in the US is likely to have a deep impact on prospects of the sector.
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