India's domestic IT Market including hardware, software and services is expected to grow at 21.5% during 2007 to touch Rs.75,891 crores. This will make India the fastest growing market in theh Asia-Pac region, according to global IT consultant IDC.

The domestic IT spending during 2006 is estimated at Rs.62,456 crore, a year-on-year growth of 22.4%.

IDC said that the rapid growth of the Indian economy had triggered the entry of many global gaints into the domestic market, thus putting immense pressure on Indian enterprises to stay competitive.

2007 would be a year of intense "hyper disruption: - with small businesses becoming big; more software becoming services; more services becoming software; and business IT players becoming consumer-oriented.

"These disruptions would force most market leaders out of thier comfort zones and open-up new opportunities for those who choose to surf the disruptions rather than stand against them." - IDC India Country Manager - Kapil Dev Singh.

IDC says that IT sector will begin to view software and service as a major value addition in 2007

Internet subscriber base in the country to grow at 50% in 2007

India to add around 85 million new mobile subscribers in 2007, beating China for the first time.This will lead to investments of around $10 billion.

Source: 1

Prashanth Rai