The e-biz cherry blossoms for Indian businesses
According to the National Association of Software & Service Companies (NASSCOM), there will be a US$9 billion business opportunity in the global e-solutions services market for Indian IT companies by 2005.
According to the National Association of Software & Service Companies (NASSCOM), there will be a US$9 billion business opportunity in the global e-solutions services market for Indian IT companies by 2005. At the same time, the Indian market for e-solutions is expected to grow from a base of US$65 million in 2000 to US$500 million in 2005.
In addition to identifying market potential, the report provides a roadmap for India so that it can “realise value from e-commerce” and become globally competitive. This road map is essential to the nation’s e-business success as Phiroz Vandrevala, chairman of NASSCOM explains that the report has revealed that while the Indian industry is mobilising to build capabilities for e-commerce, there are vast differences amongst players on their understanding of e-commerce benefits and their readiness to capture the opportunity.
"In order to capture the e-solution services opportunity, Indian IT companies will need to build domain expertise in select industry verticals or product applications. They will also need to modify their marketing and implementation approach to suit sales processes of e-solutions," he says.
James Abraham, vice president & director, Boston Consulting Group, added, “It is imperative to understand that the domestic market is crucial for our software industry's aspirations of global leadership. Though the domestic market is small, it offers a 'home turf' on which to build capabilities to market to the world."