2014 was a mixed year for the industry. The start of the year was a bit uncertain and conservative with some global economies still recovering from the last lap of recession. The last two quarters of the year have fared quite extremely well for Indian IT industry. The industry has set a foundation for growth in the last couple quarters. The India Inc sentiments have been positive since the establishment of stable government at the center and state. The year 2014 has also been good for the technology start-up ecosystem in the country with a several initiatives being taken to strengthen the ecosystem, which includes the start-up incubator in Hyderabad.
Expectations from 2015
Global Economy seems better for 2015 but not much, considering Ebola, Russian crisis, Western Europe, Japan are not showing any growth and a potential China slow down. However, the industry is looking forward to a positive and stabilizing year. The Indian IT industry is now gradually moving towards building product led innovations. The focus on digital solutions will lead the industry on the growth path. Industry Associations such as NASSCOM and governments (both the state and the central govt.) have put additional emphasis on creating a digital India which will create more jobs in the industry. 2014 has seen the emergence of SMAC’T – Social, Mobile, Analytics, cloud and Internet of Things (IoT). SMAC’T will continue to be amongst the major trends in the coming year.
On Telangana and Hyderabad
2014 was a historical year as the state witnessed the bifurcation and importantly from the IT industry perspective ended the social unrest and uncertainty. The city is witnessing several industry events which include a world class Pega Developer Conference (PDC) which we conducted in October. I do witness traction amongst the existing companies to further expand their presence and also for new companies to establish in Hyderabad. The Telangana government has been working closely with the industry to take on new initiatives that will make it easy for the industry to operate. I continue to expect similar support and see them fully develop all of the initiatives that have been announced.