The Indian enterprise software industry has been a story of consistent double-digit growth, although on a low base. The growth has been driven primarily by companies in the financial services and telecoms sectors; the rise of large companies in previously fragmented sectors such as retail; increasing awareness of the role of IT in managing growth across sectors (which is manifested in IT projects that before would have been considered discretionary); and the build-up of computing, messaging, and connectivity infrastructure across revenue bands and sectors. While the consistent high growth slowed in 2008/09, India is now back on a high growth path and the drivers remain the same. We expect the next three to four years to be promising, with a CAGR of over 20% during the forecast period (2008-13).
