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IT SPENDING IN INDIA LESS THAN 1% OF COMPANIES' TURNOVER: SURVEY.
NEW DELHI, Sept 1 Asia Pulse - IT spending in India accounts for even less than 1 per cent of the annual turnover of the companies though domestic software market is estimated to grow to US$4.2 billion in the current fiscal year, according to a Nasscom (National Association of Software Service Companies) survey.
"IT spending as a percentage of annual turnover of user organisation is still low in the country. Around 50 per cent of the user organisations are spending less than 1 per cent of their annual turnover on IT", the survey said.
About 16 per cent of the user organisations are spending more than 1 per cent of the annual turnover on IT, it said.
Banking, finance and insurance continues to be the single largest contributor at 24 per ...
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Source: HighBeam Research, IT SPENDING IN INDIA LESS THAN 1% OF COMPANIES' TURNOVER: SURVEY.