I am glad to launch the first edition of Dun & Bradstreet’s publication on the Indian IT industry, ‘CTO Black Book 2009’. We are sure that this publication will prove to be a valuable resource as well as a platform for the Indian IT industry to reach out to potential clients globally.

Economies across the globe have shown initial signs of a recovery owing to the stimulus packages and other monetary initiatives taken by the governments of several advanced and developing economies to tackle the economic crisis. According to the IMF, the world economy is estimated to grow by 4.2% in 2010 and subsequently 4.3% in 2011, after experiencing a contraction of over half a percentage in 2009. On the other hand, the Indian economy has demonstrated a better than expected growth of 6.7% in FY09 and is estimated to achieve 7.4% growth in FY10 notwithstanding worst ever recession since World War II that the entire world has ever witnessed.

On a positive note for the global IT industry, the worldwide IT spending is slowly increasing, after a decline of 2.9% in 2009. It is estimated that worldwide IT spending would grow at 3.3% in 2010. According to Nasscom- IDC, global IT services expenditure is expected to reach around USD 603 billion in 2010, and subsequently to USD 695 billion by 2013, growing at a CAGR of 4.8% between 2009 and 2013. Notably, the Indian ITBPO industry revenue reached over USD 73 billion in FY2010, registering a growth rate of 5.3% against the preceding period. During this period, Indian IT-BPO industry exports have also crossed a landmark figure of USD 50 billion.

The slowdown in the US and European economies may further open up new opportunities for outsourcing of work to low cost destinations such as India, China, and Philippines among others as companies across the world attempt to control costs. Going Forward, India is expected to be one of the biggest beneficiaries of this trend, due to its competitive advantages such as quality of service, skilled labour force, and cost arbitrage, among others.

The publication ‘CTO Black Book 2009’ highlights the performance and future plans of the leading IT companiecompanies in India. I am sure that this publication will provide a well-researched information source on the industry.

At Dun & Bradstreet, we will continue to endeavor to meet your expectations from our publication. I look forward to receiving your feedback and suggestions.

David J. Emery
President - Asia Pacific & Senior Vice President of the Corporation
Dun & Bradstreet