Financial Daily from THE HINDU group of publications
Saturday, Aug 23, 2003
Financial Daily from THE HINDU group of publications Saturday, Aug 23, 2003 |
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Info-Tech
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Outsourcing Outsourcing is absolute strategic necessity: Premji Our Bureau
Bangalore , Aug 22 "THE truth is that outsourcing is no longer a choice but an absolute strategic necessity," according to Mr Azim Premji, Chairman, Wipro Corporation. He was speaking on `IT as a strategic tool,' at ICAI, Bangalore Conference on Friday. "What happened to manufacturing 15 years back has now happened to services. It is clear that economics and demographics dictate that IT services will get outsourced to the locations that are best suited for them globally, and that is to India and other comparable economies," he said. Talking of the potential of the hardware sector, he said it was a robust contributor to the economy. Quoting instances of Singapore and Malaysia, he said that 47 per cent and 65 per cent (respectively) of their GDP came from IT \ electronics exports. The hardware consumption in India currently was $4 billion and according to a report by Manufacturers' Association of Information Technology, this had a potential to multiply by 11 times by 2010.
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