it and ites march 2014

8/11/2019 IT and ITeS March 2014

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Source: NASSCOM; Aranca Research

Note: BPM - Business Process Management, USP - Unique Selling Proposition

Strong growth

opportunities

The IT-BPM sector in India is estimated to expand at a CAGR of 9.5 per cent to USD300

billion by 2020. The sector increased at a CAGR of 25 per cent over 200013, 3-4 times

higher than global IT-BPM spend

Leading sourcing

destination

India is the worldslargest sourcing destination, accounting for approximately 52 per centof the USD124130 billion market. The countrys cost competitiveness in providing IT

services, which is approximately 3-4 times cheaper than the US continues to be its USP in

the global sourcing market

Largest pool of ready to

hire talent

Indiashighly qualified talent pool of technical graduates is one of the largest in the world,

facilitating its emergence as a preferred destination for outsourcing

Most lucrative sector for

investments

The sector ranks fourth in Indias total FDI share and accounts for approximately 37 per

cent of total Private Equity and Venture investments in the country


4/45

Growing demand

Source:Nasscom, Aranca Research

Note: SEZ stands for Special Economic Zone, BFSI stands for Banking, Financial Services and Insurance; E stands for Estimate, F stands for Forecast

Growing demand

Strong growth in demand forexports from new verticals

Expanding economy to propelgrowth in local demand

Global footprints

IT firms in India have deliverycentres across the world; as of2012, IT firms had a total of580 centres in 75 countries

Indias IT & ITes industry iswell diversified across verticals

such as BFSI, telecom, retail

Policy support

Tax holidays extended to the ITsector

SEZ scheme since 2005 to benefitIT companies with single windowapproval mechanism, taxbenefits,etc

Competitive advantage

India has cost savings of 6070per cent over source countries

India remains a preferreddestination for IT & ITeS in theworld. With 52 per cent marketshare, India continues to be aleader in the global sourcingindustry

The country has a huge talentpool

2013E

Industry

value:

USD108

billion

2020F

Industry

value:

USD300

billion

Advantage

India


5/45

By early 90s,

US-basedcompanies

began to

outsource work

on low-cost and

skilled talent

pool in India

IT industry started to

mature

Increased

investment in R&D

and infrastructure

started

India increasinglyseen as a product

development

destination

The number of firms

in India grew in size

and started offering

complex services

such as product

management and

go-to market

strategies

Western firms set

up a number of

captives in India

Pre-1995

1995-2000

200005

2005 onwards

Firms in India becamemultinational companies

with delivery centres

across the globe (580

centres in 75 countries,

as of 2012)

Firms in India make

global acquisitions

The IT sector is expected

to employ about 3.0

million people directly

and around 9.5 million

indirectly, as of FY13

Indias IT sector is at an

inflection point, moving

from enterprise servicing

to enterprise solutions


6/45

Source: Nasscom, Aranca Research

IT & ITeS sector

Market Size: USD56.3 billion during FY13

Over 78 per cent of revenue comes from the export market

BFSI continued as the major vertical of the IT sector

Market size: USD20.9 billion during FY13

Around 85 per cent of revenue comes from the export market

Business Process

Management (BPM)

IT services


Over 79 per cent of revenue comes from exports


The domestic market accounts for a significant share

The domestic market is experiencing growth as the penetration of

personal computers is rising in India

Hardware

Software products and

engineering services


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Note: E - Estimates

Market size of IT industry in India (USD billion)Indias technology and BPM sector (including hardware) isestimated to have generated USD108 billion in revenue

during FY13 compared to USD100.9 billion in FY12,implying a growth rate of 7.4 per cent

The contribution of the IT sector to Indias GDP rose to

approximately 8 per cent in FY13 from 1.2 per cent in FY98

22 22 24 2932 32

41 4750

59

6976

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013E

Domestic Export


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Source: Bloomberg, Aranca Research

Note: 2012 (calendar year) revenues were

considered for all the companies

Market share of IT players based on revenues (2012)TCS is the market leader, accounting for about 10.1 percent of Indiastotal IT & ITeS sector revenue

The top six firms contribute around 36 per cent to the total

industry revenue, indicating the market is fairly competitive

Company name Market share

TCS 10.7 per cent

Wipro 7.2 per cent

Cognizant 6.8 per cent

Infosys 6.3 per cent

HCL Tech 4.2 per cent

Tech Mahindra 1.1 per cent


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Note: E stands for Estimate

Growth in export revenue (USD billion)

Total exports from the IT-BPM sector (excluding hardware) are estimated at USD76 billion during FY13; the industry rose at

a CAGR of 13.1 per cent during FY08-13E despite weak global economic growth scenario

Export of IT services has been the major contributor, accounting for 57.9 per cent of total IT exports (excluding hardware)

BPM accounted for 23.5 per cent of total IT exports during FY13

Sector-wise breakup of export revenue FY13E

22.2 25.8 27.333.5

39.9 43.9

9.911.7 12.4

14.1

15.917.8

8.810 10.4

11.4

13.014.1

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013E

IT services BPM Software products and engg. services

57.9%23.5%

18.6% IT services

BPM

Software productsand engg. Services

CAGR: 13.1%


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Notes: C&U - Construction & Utilities, T&T - Travel and Tourism, T& M - Telecom & Media, BFSI - Banking, Financial Services and Insurance

The figures mentioned are for IT and BPM only and do not include engineering services and hardware exports

Export revenue growth across verticals (USD billion)

BFSI is a key business vertical for the IT-BPM industry. It generated export revenue of around USD31 billion during FY13,

accounting for 41.0 per cent of total IT-BPM exports from India

Approximately 85 per cent of total IT-BPM exports from India is across four sectors: BFSI, telecom, manufacturing and retail.

The hitherto smaller sectors are expected to grow

Distribution of export revenue across verticals (FY13)

28

1311

73

2 2

31

14 12

84 2 2

BFSI

T&M

Manufacturing

Retail

Healthcare

T&

T

C

&U

FY12 FY13

41%

18%

16%

10%

5% 3%

3%

BFSI

T & M

Manufacturing

Retail

Healthcare

T & T

C & U


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Note: ROW is Rest Of the World, APAC is Asia Pacific

Geographic breakup of export revenue (USD billion)

US has traditionally been the biggest importer of Indian IT exports; over 60 per cent of Indian IT-BPM exports were

absorbed by the US during FY13

Non US-UK countries accounted for just 21.0 per cent of total Indian IT-BPM exports during FY12

Europe, one of the fast growing IT markets in 2012, is expected to emerge as a potential market as higher inclination

towards offshoring firms would increase demand for IT services

Distribution of export revenue across geographies (FY13)

42

12 85

2

47

13 96

2

US UK ContinentalEurope

APAC ROW

FY12 FY13

62%

17%

11%

8%2%

US

UK

Continental Europe

APAC

ROW


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CategoryNumber of

players

% of total export

revenue

% of total

employeesWork focus

Large sized 11 47-50% ~35-38%

Fully integrated players offering full range of

services

Large scale operations and infrastructure

Presence in over 60 countries

Mid sized 85-100 32-35% ~28-30%

Mid tier Indian and MNC firms offering servicesin multiple verticals

Dedicated captive centers

Near shore and offshore presence in >30-35

countries

Emerging 450-600 9-10% ~15-20%

Players offering niche IT-BPM services

Dedicated captives offering niche services Expanding focus towards sub Fortune 500/

1000 firms

Small >4,000 9-10% ~15-18%

Small players focussing on specific niches in

either services or verticals

Includes Indian providers and small niche

captives


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Global delivery

model

The number of global delivery centres of IT firms in India reached 580, spreading out

across 75 countries, as of 2012

As of 2009, over 150 centres were set up by various Indian IT firms in North America

Global sourcing hub India continues to maintain a leading position in the global sourcing market. Its market

share increased to 52.0 per cent in 2012 from 50.0 per cent in 2011

Engineering offshoring India is the most preferred location for engineering offshoring, according to a customer poll

conducted by Booz and Co

Companies are now offshoring complete product responsibility

Patent filing

Increased focus on R&D by IT firms in India resulted in rising number of patents filed by

them

The number of patents filed by the top three IT companies increased to 858 in 2012 from150 in 2009


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Changing business

dynamics

IndiasIT market is experiencing a significant shift from a few large-size deals to multiple

small-size ones

Delivery models are being altered, as the business is moving to capital expenditure

(capex) based models from operational expenditure (opex), from a vendors frame of

reference

Large players gaining

advantage

Large players with a wide range of capabilities are gaining ground as they move from

being simple maintenance providers to full service players, offering infrastructure, system

integration and consulting services

New technologies Disruptive technologies, such as cloud computing, social media and data analytics, are

offering new avenues of growth across verticals for IT companies

Growth in non-linear

models

Indias IT sector is gradually moving from linear models (rising headcount to increase

revenue) to non-linear ones

In line with this, IT companies in India are focusing on new models such as platform-based

BPM services and creation of intellectual property


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Consumerisation of IT

Global outsourcing is being used to drive fundamental re-engineering of end-to-end

processes

Increased emphasis on beyond cost benefits

IT firms in the current phase have moved up the value chain, providing innovation-led

growth to clients from SLA satisfaction and RoI calculations

Emergence of Tier II

cities

Tier II and III cities are increasingly gaining traction among IT companies, aiming toestablish business in India

Cheap labour, affordable real estate, favourable government regulations, tax breaks andSEZ schemes facilitating their emergence as a new IT destination

Giving rise to the domestic hub and spoke model, with Tier I cities acting as hubs and Tier

II, III and IV as network of spokes

SMAC technologies, an

inflection point forIndian IT

Social, Mobility, Analytics and Cloud (SMAC), a paradigm shift in IT-BPM approaches

experienced until now, is leading to digitisation of the entire business model IT vendors in India to generate USD225 billion from SMAC-related revenue by 2020

Note: SLA - Service Level Agreement; RoI - Return on Invesmtnet


16/45

Note: STPI stands for Software Technology Park of India, SEZ stands for Special Economic Zone

Growth

drivers

Talent Pool

Domestic

growth

Infrastructure

Global

demand

Policy

support

Computer penetration

expected to increase

Government likely to become

a major contributor to domestic

demand by 201314

4.7 million graduates are estimated to have been

added to Indias talent pool in FY13

Strong mix of young and experienced professionals

Global IT offshore

spending is expected to

rise at a CAGR of 8.0 per

cent during FY1113

Global BPM spending is

estimated to expand at a

CAGR of around 7.0 per

cent during FY1113

Tax holidays for STPI and

SEZs

Procedural ease and single

window clearance for setting

up facilities

Robust IT infrastructure across

various cities in India such as

Bengaluru

Delivery centres spread across

various countries


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Note: Small and Medium Business; E indicates estimated numbers

Domestic IT market by customer segment

(FY2013E)

Large enterprises account for a significant share of the IT

market and added USD15bn to domestic revenue in FY13

Expansion of Indian firms in global markets is

leading to increasing spend on IT for efficient and

cost-effective operations

SMB, another potential demand pool for IT services indomestic market

Adoption of technology for enhancing product

visibility, reach and operational efficiencies is

leading to higher demand for IT services from SMBs

With 46 million units, India has the second largest

SMB base in the world

47%

26%

15%

12%

Large enterprises

SMB

Governement

Consumers

Total market = USD32 billion


18/45

Source: Nasscom, Aranca ResearchNote: UT - Union Territory

Domestic revenue from IT and BPM (USD billion)Introduction of large eGovernance projects to provide betterservices through IT and focus on the formation of the cyber

policy led to higher demand for IT and hardware from the

government

The Central Government and State/UT Government

allocated 0.91.2 per cent and 2.83 per cent,

respectively, of total budget on IT spend under the12thFive Year Plan

Strong consumer demand for IT service and products:

Advent of smartphones, tablets, iPads,

Rising computer literate population

Enhanced Internet and mobile penetration

Growing disposable income strengthening consumer

purchasing power

15.5

FY13 FY15F FY20F

~22-23

~90-100


19/45


Note: Ovals indicate CAGR

Export revenue from IT and BPM (USD billion)Global IT-BPM spending to grow 56 per cent to nearlyUSD2 trillion by 2013

Global sourcing to rise at a faster pace of 911 per cent to

USD124130 billion in 2013

Emergence of SMAC would provide USD1 trillion market by

2020

Emerging economies are likely to be a major contributor to

IT spend growth

IT spend in emerging economies to grow 3-4 times

faster than advanced economies

The BRIC IT market is estimated at USD380420

billion by 2020

Emerging segments are expected to drive growth of IndianIT-BPM exports

48

~106-111

FY11 FY14F

Core and non core segments growth prospects

22 11 1.2 7.6 3.2 3.1

35

152

135.5 5.5

CADM

ER&D

ITconsulting

ISsourcing

Knowledge

services

Software

testing

FY13E FY16F

Core segments Emerging segments17%

10%

19%20%

20%21%


20/45

Source: Nasscom, Aranca ResearchNote: Graduates includes both graduates and post graduates

Graduates addition to talent pool in India

(in millions)

Availability of skilled English speaking workforce has been a

major reason behind Indias emergence as a globaloutsourcing hub

India added around 4.7 million graduates to the talent pool

during FY13

Growing talent pool of India has the ability to drive the R&Dand innovation business in the IT-BPM space

3.2 3.5

3.7 4.0

4.4

4.7

FY2008 FY2009 FY2010. FY2011 FY2012 FY2013E


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Training expenditure by Indian IT-BPO sectorAbout 2 per cent of the industry revenue is spent on trainingemployees in the IT-BPM sector

40 per cent of total spend on training is spent on training

new employees

A number of firms have forged alliances with leading

education institutions to train employees

24%

6%

13%

27%

19%

11%

Salaries for inhousetraining staff

External training (newrecruits)

External training (existing

employees)

Recruitment cost

Employee welfare

Other costs


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Note: NAC - Nasscom Assessment of Competence, IIIT - Indian Institutes of Information Technology

Short term

Medium term

Long term

Enhance over all yield of employees

Improve employability

Expand to tier 2 cities

Lower skill dependence

Objectives Initiatives

Industry to enhance investment in

training

Use NAC and NAC Tech to assess

employability of talent pool

Identified new tier 2 locations

Bring down investment on training

Develop specialist and project

management expertise

Launched the National FacultyDevelopment Programme to increase

suitability of Faculty

Aiding industry access to specialist

programmes offered by independent

agencies

Expand education capacity

Promote reforms in education

Expansion of higher education

infrastructure; 20 new IIITs to be set up

by the government

Programme to increase PhDs in

technology


23/45

Source: Nasscom, Aranca Research, STPI

As of FY2011, 6,554 STPI units were operational, while

5,564 units have exported IT services and products. DuringFY11, STPI units accounted for approximately 76.0 per cent

of total IT exports

IT-SEZs have been initiated with an aim to create zones

that lead to infrastructural development, exports and

employment

Characteristics of STPI and SEZ in India

Parameters STPI SEZ

Term 10 years 15 years

Fiscal benefits

100 per cent tax

holiday on export

profits

Exemption from

excise duties and

customs

100 per cent tax

holiday on exports

for first five years

Exemption from

excise duties and

customs

Location and

size restrictions

No locationconstraints

23 per cent STPI

units in tier II and

III cities

Restricted to

prescribed zones

with a minimum

area of 25 acres


24/45

Source: Nasscom, E&Y, Aranca Research

IT sector employment distribution in Tier I and

Tier II/III cities

1,821 1,615

175

3,230

2008 2018E

Tier I locations Tier II/III locations

Trends in tier II and III cities

43 new tier II/III cities are emerging as IT delivery

location; this could reduce pressure on leading

locations

Cost in newer cities is expected to be 28 per cent

lower than leading cities Lower cost and attrition, affordable real estate and

support from local government, such as tax breaks,

STPI and SEZ schemes, are facilitating this shift of

focus

Over 50 cities already have basic infrastructure and

human resource to support the global sourcing and

business services industry

Some cities are expected to emerge as regional hubs

supporting domestic companies


25/45

Source: Zinnov, Nasscom, Aranca Research

Number of GICs in India

2000 2005 2010 2012

~180

450+

700+750+

Key highlights

Global In-House Centers (GIC), also known as captive

centers, are one of the major growth drivers of the IT-

BPM sector in India

As of FY2012, the captive segment accounted for 16-

18 per cent of the IT-BPM industry revenue The impact of the segment goes beyond revenue and

employment, as it helped in developing India as a R&D

hub and create an innovation ecosystem in the country

Within the captive landscape, ER&D/SPD

(Engineering Research & Development /Software

Product Development) is the largest sub-segment

Companies from North America and Europe are major

investors in the captive segment in India, accounting

for over 90 per cent of captives in the country


26/45

Source: Venture Intelligence, Nasscom, Aranca Research

PE-VC investments in IT & BPM (USD billion)

The IT & BPM sector continued to attract PE and VC investments in 2012, accounting for a significant proportion in terms of

volume (around 37 per cent) and value (approximately 40 per cent)

Value increased at an impressive 68.4 per cent over 2011

eCommerce accounted for 31 VC deals in 2012

About 64 per cent of VC deals in India were in the software, internet and mobile industry

Two of the largest PE deals in the sector during 2012 were:

JP Morgansbuyout of M*Modal (USD1,100 million)

Bain Capital, GIC investment in Genpact (USD1,000 million)

In 1Q13, the industry attracted 26 deals at a value of USD105 million

Share of IT-BPM in PE-VC investments

0.8

1.9

3.2

2008 2011 2012

184

379

484

393

5825 32 40

2009 2010 2011 2012

Number of deals Share of IT-BPM


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Growth trend of traditional verticals

Traditional verticals i.e. BFSI, telecom and manufcaturing, continue to remain the largest in terms of IT adoption, and are

expected to grow at an average of 15 per cent

Implementation of cloud environment and mobility way forward for traditional verticals

Emphasis on other emerging verticals (such as education, healthcare and retail) to aid growth in IT firms in India

Shift from IT adoption infrastructure, automation and digitisation to smart IT marks future trend of services in

emerging verticals

Growth trend of emerging verticals

12880

339

195

126

506

243

193

595

BFSI Telecom Manufacturing

FY10 FY13E FY15F

17.2

11.6

4.4

34.5

17.5

8.7

39.5

24.8

9.7

Education Healthcare Retail

FY10 FY13E FY15F



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Note: SMB - Small and Medium Business

Market size of other progressing verticals by 2020

(USD billion)

As IT is increasingly gaining traction in SMBs business

activities, the sector offers impressive growth opportunities

and is estimated at approximately USD230250 billion by2020

In a bid to reduce cost, governments across the world are

exploring outsourcing and global sourcing options

Technologies, such as telemedicine, mHealth, remote

monitoring solutions and clinical information systems, would

continue to boost demand for IT service across the globe

IT sophistication in the utilities segment and the need for

standardisation of the process are expected to drive

demand

Digitisation of content and increased connectivity is leadingto a rise in IT adoption by media

250

90

5825

17

SMB Government Healthcare Utilities Media


30/45


Note: Size of bubble indicates market size,*CAGR and market size for Big data/analytics is till 2015

Growing technologies future growthEmerging technologies present an entire new gamut ofopportunities for IT firms in India

SMAC provide USD1 trillion opportunity

Cloud represents the largest opportunity under SMAC,

increasing at a CAGR of approximately 30 per cent to

around USD650700 billion by 2020

Social media is the second most lucrative segment for IT

firms, offering a USD250 billion market opportunity by 2020

Cloud

Social Media

Enterprisemobility

Bigdata/analytics*

10%

20%

30%

40%

50%

60%

0 200 400 600 800

CAGR

till2020

Market size USD billion


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Source: TCS website and Annual Report, Aranca Research

Segment-wise revenue breakdown (FY13)

66%5%

12%

3%

3%

13%

IT solutions andservices

Engineering andindustrial services

Infrastructure

services

Global consulting

Asset leveragesolutions

Business processoutsourcing

Tata Consultancy Services

Established in 1968, Tata Consultancy Services (TCS) is

an Information Technology (IT) services, consulting and

business solution company. It provides end-to-end

technology and technology-related services to global

enterprises. The companys business is spread acrossthe Americas, Europe, Asia Pacific, and Middle East and

Africa (MEA).

Achievements:

2013: Won Best Performing Consultancy Brand award

in Europe

2013: Received Red Hat North America Awards for

System Integrator Partner of the Year

2012: TCS China ranked amongst the top 10 global

services providers in China

2012: TCS BaNCS won Xcelent Customer Base

Awards 2012


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1968 2001 2003 2005 2007 2009 2011 2013

Energy resources

& Utilities

Consolidation of

market position

through CMC

acquisition

Expansion of

geographic

presence

1968

Indias firstsoftware service

company

Issue of an IPO in

the market in India

and raised USD1.2

billion in 2004

FY03

Became the firstsoftware company

in India to cross

USD1 billion

revenue

FY13

USD11.6

billion revenue

Life Sciences &

Healthcare

Manufacturing

Media &Entertainment

Retail and consumer

packaged goods

BFSI

Acquisition of IT

service firm Alti in

France in 2013

With a brand value of over

USD1 billion, TCS

consolidates position as

one of the largest ITplayers

FY13Active client

base: 1,156

New clients:

153

Source: TCS website and Annual Report, Aranca Research


35/45

Source: HCL Technologies website and Annual Report,Aranca Research


32%

24%

20%

19%

5% Custom applicationservices

Infrastructure services

Enterprise applicationservices

Engineering & R&Dservices

Business services

HCL Technologies

Established in 1991, HCL Technologies Ltd is an IT

services company providing enterprise and custom

application, business transformation, infrastructure

management, business process outsourcing and

engineering services. The companys network of 26offices is spread across the US, Europe and Asia Pacific.

Achievements:

2013: Won IT Europa, European IT Excellence

Awards and Asia Pacific Enterprise Leadership Award

2013

2012: Received Market Facing Innovation award at the

NASSCOM Innovation Awards, 2011

2011: Received Operational Excellence & Qualityaward at BPO Excellence Awards 201011


36/45

Source: HCL Technologies website and Annual Report,

Aranca Research

Number of customersFinancial performance (USD billion)

1,879

2,228

2,560

3,452

4,345

3,459

250 317 321438 656

682

FY08 FY09 FY10 FY11 FY12 9MFY13

Revenue Operating profit

386

152

92

4425 14 10

422

187

98

5129 15 10

USD1million+

USD5million+

USD10million+

USD20million+

USD30million+

USD40million+

USD50million+

31-Mar-12 31-Mar-13


37/45


38/45

Source: Infosys website and Annual Report,

Aranca Research


34%

22%

20%

24%

Financial services &Insurance

Manufacturing

Energy utilities,Communication andServices

Retail, Consumerpackaged goods,Logistics and LifeSciences

Infosys Limited

Established in 1981, Infosys Limited is engaged in

consulting, engineering, technology and outsourcing

services. The companys end-to-end services include

consulting and system integration. It operates through 30

offices across India, the US, China, Australia, the UK,Canada and Japan.

Achievements:

2013: Ranked first in the annual Euromoney Best

Managed Companies in Asia survey

2013: Received NASSCOM Business InnovationAward 2013 for Infosys Edge

2012: Identified as an innovation leader in KPMGs

Global Technology Innovation Survey 2012


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Number of customersFinancial performance (USD billion)

5.0 4.8

6.0

7.0 7.4

1.7 1.6 1.82.0 1.9

FY09 FY10 FY11 FY12 FY13

Revenue Operating profit

399

190

132

233

97

16

448

213

137

231

84

15

USD1million+

USD5million+

USD10million+

USD20million+

USD50million+

USD100million+

2012 2013

Source: Infosys website and Annual Report,

Aranca Research


40/45

1981 1991 1993 1995 1997 1999 2002 2006 2010 2012

Logistics and

Distribution

Organic growth

Large client

acquisitions

1981

Founded in

Pune with an

initial capital of

USD250

Expansion across

the world and

offshore business

1993

Launched

IPO

FY13

USD7.4billionturnover

Industrial

manufacturing

Healthcare,

Pharmaceuticals &

Biotech

Financial service

Automotive

Aerospace, Defense

&

Airlines

Acquisition of

Lodestone Holding

AG

Strong diversified

client base of 798

clients

1999

Reached USD100

million and listedon NASDAQ

Source: Infosys website and Annual Report, Aranca Research


41/45

National Association of Software and Services Companies

(NASSCOM)Address: International Youth Centre Teen Murti Marg, Chanakyapuri,

New Delhi110 021

Phone: 91 11 2301 0199

Fax: 91 11 2301 5452

E-mail: [email protected]


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APAC:Asia Pacific

BFSI: Banking, Financial Services and Insurance

BPM: Business Process Outsourcing

CAGR: Compounded Annual Growth Rate

C&U: Construction & Utilities

FDI: Foreign Direct Investment

GOI: Government of India

INR: Indian Rupee

IT&ITeS: Information Technology-Information Technology Enabled Services

NAC: Nasscom Assessment of Competence

RoI: Return on Investment

ROW: Rest Of the World


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SEZ: Special Economic Zone

SLA: Service Level Agreement

SMB: Small and Medium Businesses

STPI: Software Technology Parks of India

T&M: Telecom & Media

T&T: Travel and Transport

USD: US Dollar

USP: Unique Selling Proposition

UT: Union Territory

Wherever applicable, numbers have been rounded off to the nearest whole number


44/45

Year INR equivalent of one USD

2004-05 44.95

2005-06 44.28

2006-07 45.28

2007-08 40.24

2008-09 45.91

2009-10 47.41

2010-11 45.57

2011-12 47.94

2012-13 54.31

Exchange rates (Fiscal year)

Year INR equivalent of one USD

2005 45.55

2006 44.34

2007 39.45

2008 49.21

2009 46.76

2010 45.32

2011 45.64

2012 54.69

2013 54.45

Exchange rates (Calendar year)

Average for the year


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it and ites march 2014

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