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Nasscom-McKinsey
2002 study previewed
To help Indian companies sustain growth in the downturn,
Nasscom in association with McKinsey is currently working
on a revised version of the 1999 report. A preview of the
preliminary findings of the new study was presented at Nasscom
2002
According to the report, the industry has grown at over 45
percent CAGR over the last three years and has been the most
value creating sector in the Indian economy. The presentation
mentioned that despite the current slowdown, the long-term
fundamentals of the industry remain robust. The report concluded
that Indian companies would need to simultaneously focus on
key near-term executional challenges and on longer-term business
models in order to sustain the second wave of growth. The
precise nature of these imperatives will vary across the different
clusters of the industry that have been identified.
Says Nasscom chairman Phiroz Vandrevala, “New verticals
such as utilities, healthcare, retail, transportation and
services such as BPO, R&D, Internet related services,
mobile enablement and security and business continuity services
are the next big opportunity for Indian companies. The Nasscom-McKinsey
study will outline the strategy that needs to be adopted by
Indian companies to extend our success story into these new
white spaces.”
According to Arun Kumar of Hughes, the industry will in the
medium to long term converge around business models such as
a global contract manufacturer lowest cost delivery of IT
services; Big Five front end skills bolted onto low cost,
high quality global delivery model; or even an ‘under-the-radar’
services provider consistently spotting and serving niches
that fall under the radar of larger vendors.
SafeScrypt
issues India’s first Digital Signature Certificate
Pramod Mahajan, minister of communications and IT, Government
of India, received India’s first Digital Signature Certificate
from SafeScrypt in a ceremony at Nasscom 2002. Digital signatures
are expected to ensure secure Internet-based online transactions
and e-commerce in the country. Says Mahajan, “Digital
signatures will prove to be a vital link in implementing the
IT Act 2000 and lead to growth in e-commerce, e-learning and
e-governance as well as IT-enabled services in India.”
SafeScrypt is currently India’s only company to get a
Certifying Authority licence for Digital Signatures from the
Controller of Certifying Authorities (CCA), Ministry of IT,
Government of India. During the function, SafeScrypt also
arranged a live demonstration of the working of digital signatures
and the security they provide to users.
Nasscom
signs MoU with SMAU
Nasscom has entered into an MoU with SMAU, the industry association
for ICT in Italy. As part of the MoU, both SMAU and Nasscom
will work towards raising awareness in their respective governments
about key issues such as liberalisation of work permits, resolve
dual payment of social security and joint projects for development
of human resources. Both parties have also agreed to jointly
organise a high-powered institutional and business delegation
from India to Italy at SMAU 2002, the second largest ICT exhibition
in Italy, and also from Italy to India at Nasscom 2003 to
foster trade.
Italy is expected to face a shortfall of about 2,00,000 trained
IT software professionals. These vacancies will be primarily
for developers, specialist technicians, network managers,
data communication engineers, ERP and multimedia experts in
Italy. Says Phiroz Vandrevala, chairman, Nasscom, “India
produces about 1,78,000 engineering professionals and around
one million IT professionals are trained every year. India
can make a significant contribution towards meeting this demand
supply gap in Italy in addition to focussing on business to
business transactions.”
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