INTRODUCTION OF IT SECTOR -
The global IT segment of the market reached to US$ 1.2 trillion in 2016-17. Indian IT companies have set more than 1000 global delivery centers in more than 200 cities around the world.
India’s prominence is also increasing in terms of intellectual capital with many IT firms from around the world setting up their centers in India. A significant demand has been created by IT industry in education sector especially for engineering and computer science
INDUSTRY GROWTH & EXPECTATION
According to a report by National Association of Software and Services Companies (NASSCOM).The internet industry in India is likely to double to reach US$ 250 billion by 2020, growing to 7.5 per cent of gross domestic product (GDP). The number of internet users in India is expected to reach 730 million by 2020, supported by fast adoption of digital technology,
Indian IT exports are projected to grow at 7-8 per cent in 2017-18, in addition to adding 130,000-150,000 new jobs during the same period.
According to a report by Internet and Mobile Association of India and IMRB Kantar. Digital commerce market in India is set to grow at 30.4 per cent year-on-year to Rs 220,330 crore (US$ 34.11 billion) by December 2017.
MAJOR INVESTMENTS AND DEVELOPMENTS
Some of the major developments in the Indian IT and are as follows:
GOVERNMENT INITIATIVES
The global IT segment of the market reached to US$ 1.2 trillion in 2016-17. Indian IT companies have set more than 1000 global delivery centers in more than 200 cities around the world.
India’s prominence is also increasing in terms of intellectual capital with many IT firms from around the world setting up their centers in India. A significant demand has been created by IT industry in education sector especially for engineering and computer science
INDUSTRY GROWTH & EXPECTATION
According to a report by National Association of Software and Services Companies (NASSCOM).The internet industry in India is likely to double to reach US$ 250 billion by 2020, growing to 7.5 per cent of gross domestic product (GDP). The number of internet users in India is expected to reach 730 million by 2020, supported by fast adoption of digital technology,
Indian IT exports are projected to grow at 7-8 per cent in 2017-18, in addition to adding 130,000-150,000 new jobs during the same period.
According to a report by Internet and Mobile Association of India and IMRB Kantar. Digital commerce market in India is set to grow at 30.4 per cent year-on-year to Rs 220,330 crore (US$ 34.11 billion) by December 2017.
MAJOR INVESTMENTS AND DEVELOPMENTS
Some of the major developments in the Indian IT and are as follows:
- India plans to create wireless Technology 5G by the end of the year 2020 which will help India in realising its most important goals of “Increasing the GDP rate”, “Creating Employment” and “Digitizing the Economy”.
- The mobile wallet industry is expected to maintain its current pace of expansion and the value of its transaction is expected to reach Rs 32 trillion (US$ 480 billion) by 2022, growing at a rate of 126 per cent.
- India’s largest online retailer, Flipkart, has raised at least US$ 2.5 billion from SoftBank Vision Fund to maintain its dominance in the Indian e-commerce market and to fight against its arch rival Amazon India.
- Google plans to set up its first data centre in India in the city of Mumbai by 2017, to improve its services to local customers wanting to host their applications on the internet, and to compete effectively with the likes of Amazon and Microsoft.
In the Union Budget 2017-18, the Government of India announced the following key proposals:
- The Government of India has allocated Rs 10,000 crore (US$ 1.5 billion) for BharatNet project under which it aims to provide high speed broadband to more than 150,000 gram panchayats by 2017-18.
- Prime Minister of India, Mr Narendra Modi, has launched the Bharat Interface for Money (BHIM) app, an Aadhaar-based mobile payment application that will allow users to make digital payments without having to use a credit or debit card. The app has already reached the mark of 10 million downloads.
ROAD MAP AHEAD
BUY MINDTREE ABOVE 510 TARGET 535-560 WITH STOP LOSS OF 480
BUY TCS ABOVE 2770 TARGET 2850-2950 WITH STOP LOSS OF 2680
BUY KPIT ABOVE 163 TARGET 171-180 WITH STOP LOSS OF 154
BUY WIPRO ABOVE 305 TARGET 330-350 WITH STOP LOSS OF 285
- IT sector in which small I-T companies in particular is full of opportunities in the coming years as INDIA is the top most off shoring destination for IT companies around the world.
- INDIA has proven its capabilities in delivering both on shore and off shore services to global clients.
BUY MINDTREE ABOVE 510 TARGET 535-560 WITH STOP LOSS OF 480
BUY TCS ABOVE 2770 TARGET 2850-2950 WITH STOP LOSS OF 2680
BUY KPIT ABOVE 163 TARGET 171-180 WITH STOP LOSS OF 154
BUY WIPRO ABOVE 305 TARGET 330-350 WITH STOP LOSS OF 285
For more Daily Stock Market News & Updates Visit - www.marketmagnify.com or Miss call @7879881122
No comments:
Post a Comment