Mumbai: Taking over as the new Nasscom Chairman, MindTree CEO K Natarajan Monday said technology needs in India, driven by small and medium enterprises, presents a huge opportunity for the IT sector even as he expressed confidence of achieving 12-14 percent growth in exports.
He replaces TCS chief N Chandrasekaran as the chairman of the industry body, which represents the country's USD 100 billion Indian IT-BPO sector.
Expressing confidence in meeting the target of 12-14 percent growth in exports, which accounts for a huge chunk of the sector's revenues, he told PTI: "Challenges like uncertainty in regions like Cyprus, and currency volatility and quality talent requirement continue, but we already have various programmes in place to address these issues."
Natarajan has taken over as the chairman of Nasscom's Executive Council for 2013-14.
Nasscom has also appointed R Chandrasekaran, Group Chief Executive (Technology and Operations) of Cognizant as its vice-chairman for the new fiscal.
"There is a huge opportunity that can be leveraged to meet the domestic technology requirement. Small and medium enterprises will play an important role. We need to find out how SMEs can be catalysed to use technology and many of Nasscom members are already doing that," Natarajan said.
"Stakeholders of Nasscom are diverse than what it was 10 years ago. New areas like products, Internet and mobility is what we are now focussing on, all of which represents big growth opportunity for the industry," he said.
"Nasscom has played a key role in propelling the Indian IT-BPM industry to reach its USD 100 billion milestone in 2012-13...I feel privileged and look forward to lead Nasscom in its next journey of taking the industry to achieve the vision and aspiration of USD 300 billion revenues by 2020," he said in a statement earlier in the day.
The global economic uncertainty had led to reduction in budgets for outsourcing services by western clients, which has in turn sparked fears about the performance of Indian players, who get almost 80 percent of their revenues from the US and European markets, he said.
Natarajan said there are numerous opportunities available and the focus needs to be on new geographies and segments like public sector and healthcare for "incremental growth".
He added that the Executive Council will work on helping members strengthen innovation capacity and research capabilities, strengthening long-term entrepreneurial environment.
Nasscom would also work on enhancing skilled talent pool in the country and focus on specialisation.
"One of the key priorities for Nasscom is to build the future companies of the industry and I look forward to take this initiative to greater heights," Natarajan said.
First Published: Monday, April 8, 2013, 20:09