India’s IT services revenue up 29% in 2003: Gartner

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Navhind Times Reports :

India-based IT services vendors saw 29 per cent increase in revenues, but continued to be a marginal player in the global market which grew 6.2 per cent to $ 569 billion in 2003, research firm Gartner has said.

Indian-based vendors represented a small segment of the worldwide market, with 1.4 per cent of total revenues. However, their revenues collectively increased 29 per cent over 2002, according to preliminary results from Gartner.

US-based vendors continued to lead the worldwide IT services market, attracting 59 per cent of the total spending. IBM remained the largest competitor, with revenue rising 6.2 per cent to $ 42.6 billion and its market share unchanged at 7.5 per cent.

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