India's value proposition and overall shift towards offshore information technology and IT-enabled services will lead to an annual growth rate of 35 per cent in the sector, with the revenue touching $148 billion by 2012, according to a Nasscom-KPMG study.
The country's revenues in the ITeS and IT services market increased by more than 25 per cent in 2002-03 to touch $12 billion and are likely to be $148 billion by 2012 with a CAGR of 35 per cent, the study said.
While IT export services are expected to account for revenues of around $55 billion by 2012 at a CAGR of 25 per cent, ITeS services will expand to $64 billion at a CAGR of 44 per cent.
Current manpower resources will not be sufficient to meet the aggressive growth targets even in the medium term (2009) registering a shortfall to the order of 0.5 million personnel, with around 23 per cent of the industry's requirements of 2.1 million for the IT and ITeS sector, it said.
"The manpower shortage will impact India's share of export in IT and ITeS markets," the study said.
This market size translates into an estimated manpower requirement of over 3.7 million for export of IT and ITeS services, the study said, adding it was a jump from 0.4 million personnel in 2003.
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