Software Development Companies in India eye on domestic market as the domestic market of the country also has lots of things to do the study suggests. According to the Offshore Outsourcing industry experts of India, local market of India also has lots of scope for the software and other IT services. India also has a large internal market for the IT services and most of the Indian local IT market is vacant because till date most of the Software Development Companies in India have concentrated on the offshore market only. But now the internal and domestic market of the country is also required to be taken care off. IT Companies can almost have the same scopes from the Internal Market also.
Country’s export-focused software and Information Technology services companies have now started to focus outsourcing projects on their home soil as Industries such as banking and government departments’ step up spending on information technology development to reduce costs and improve their work efficiency. Local firms of India from other industries are also now focusing more to change their traditional business way and want to go global. The way of business seems to get changing in the country as now most of the industries are becoming techno savvy. Gradually the concept of latest technology and having a global presence is replacing the approach of older way of the business. This is the main reason that IT Companies from the India are now trying to give equal importance to the domestic market.
Software Development Companies in India
It has come out that the domestic spending on software and back-office operations is also expected to rise at remarkable growth. The Software Development Companies expect the domestic market investment around the $7-7.3 billion by the year ending in March 2007. The current investment figure of the local market is around $6 billion. These facts and figure are published by the National Association of Software and Service Companies (NASSCOM). This is the main reason that Offshore Outsourcing Companies from the house of India are now planning to focus on the local-domestic market. According to the industry experts Software Development Companies in India can have more advantages in domestic market.
The study also indicates that annual growth of the domestic software market could reach 20-25 per cent in the coming years, and Software Development Companies can have good market on home soil only. Industry sectors such as banking, finance, retail, health-care and many other are now becoming more and more advance with the technology growth and this is where the opportunities for the Offshore Outsourcing Companies to serve the country. The study also reveals that IT Companies and IT Industry of India gets around 80 percent of the revenue from United States and Western Companies, but now the competition in the market is also increasing, as most of the major Software Development Companies such as IBM and other are expanding their business possibilities in India.
So the overall issues suggest that India itself has huge growth opportunities on home soil for the better future. Along with the overseas market Software Development Companies should also concentrate and put more efforts on home ground.