Financial Daily from THE HINDU group of publications
Thursday, Mar 31, 2005
Financial Daily from THE HINDU group of publications Thursday, Mar 31, 2005 |
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Information Technology Info-Tech - Entrepreneurship Start-ups to fore, form 20% of new Nasscom members in fiscal 2004-05 Moumita Bakshi
New Delhi , March 30 IF 2001 saw IT entrepreneurs burning their fingers in technology business and shutting shop, last year or so has seen their resurgence. About 20 per cent of companies that enlisted as Nasscom members during 2004-05 are entrepreneur-led IT and IT-enabled services (ITES) firms. "The last two years have seen the return of the IT entrepreneur. During 2001-02 many entrepreneur-led companies had dropped out of the technology business and had shut shop in the wake of the dotcom bust, but in 2004-05 about 20 per cent of the new members belonged to this category," Nasscom's Vice-President, Mr Sunil Mehta, told Business Line. Nasscom membership in 2003-04 included about 850 IT and ITES companies. This figure rose to about 900 in the current financial year, of which close to 625 are predominantly IT services companies, and about 275 IT-enabled services firms. About 150 companies operate in both the areas. While the burgeoning membership numbers reflect the sheer size of the software industry, the membership, to an extent, also traces the growth pattern of the IT sector in India. "Till the mid 1990s, Nasscom members were mostly large Indian companies. "Late 90s saw smaller companies operating in areas such as software products, embedded software and Internet, becoming members of the software association. Subsequently, MNCs eyeing the Indian market came into fray," Mr Mehta said. With India positioning itself as an attractive IT services destination, early 2000 brought a wave of new members - global companies that were setting India development centres to capitalise on IT skill sets here, he added.
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