Bangalore: The IT industry will focus on internet and mobile technology, big data and cloud computing technologies for speedy growth in order to achieve USD 300 billion revenue by 2020, Nasscom said Monday.
"The IT industry has a vision and aspiration to aggregate USD 300 billion revenue by 2020 by focussing on IT products, Internet and mobile technology, big data, cloud computing and 3G/4G technologies, for speedy growth," NASSCOM Expert Committee Chairperson N R Narayana Murthy told reporters here.
To achieve the milestone, NASSCOM in July 2012 set up an independent Expert Committee to address key needs of the industry in order to help realise Vision 2020.
The findings and recommendations of the committee report address the growth opportunity for IT industry by size and potential as well as key enablers for NASSCOM to partner industry in building future growth opportunities, he said.
Murthy said the report would help IT industry realise 2020 Vision by not only identifying distinct priority areas, but putting together focused deliverables for each of those areas.
He said seven pivotal initiatives have been highlighted in the report that will enable NASSCOM achieve the target.
The report highlights the initiative of expanding focus on industry segments based on size and potential, he said, adding the potential of IT industry is in Internet and mobile (content and commerce) segment.
It has also recommended reconstituting the Executive Council for adequate representation for seven identified priority verticals.
The recommendations will be implemented in a phased manner and NASSCOM Vice Chairman Krishnakumar Natarajan will help lead it.
The report also recommends helping develop capabilities in next generation technologies and platforms in partnership with the industry, Murthy said, adding that NASSCOM will set up five centres of excellence in five years.
NASSCOM Chairman N Chandrasekaran said the report also recommends positioning India as an innovative solution provider and destination of choice and forge partnerships to increase industry collaboration.
It lays emphasis on expanding market access through country specific initiatives and work with governments to promote free-trade, he said.
It recommends realignment of NASSCOM structure to specific verticals (IT and Services, BPM, GICs, ER&D, Internet and Mobile, Products, Domestic Market) and enablers (Global Trade, Policy Advocacy, Outreach, Skills and Talent, Regional Connect), Chandrasekaran said.