IT to be $87 bn industry in 2008: Survey

India has the world's largest treasure-trove of skilled manpower and is on the way to become a global IT powerhouse," Sudhir Trehan, CII western region chairman, today said at the fourth edition of CII's ICT summit in Pune, "Digital Maharashtra".

"MNCs are rushing to India to stake claim in the IT outsourcing market. According to a report prepared jointly by Nasscom and McKinsey, these changing circumstances would lead to the country's IT industry touching $87 billion in 2008," he said quoting the report.

Maharashtra Industries Secretary V K Jairath said India was the fourth largest IT market in the Asia Pacific region.

According to managing director IBM, Bangalore, Shankar Annaswamy for the industry to move ahead it was important to shift towards providing solutions for the industry.

Appreciating the role played by MIDCS in promoting it industry in the state chairman and managing director Zensar Technologies Ganesh Natarajan said right partnership was needed to be created between industry, government and academia.