Bucking the slowdown trend, Indian telecom equipment industry grew 20 per cent to cross the 24 billion dollar (Rs 1,14,527 crore) mark in 2008-09 in spite of the global slowdown, a survey said.
Though less than the 24 per cent growth recorded in 2007-08, yet the industry still maintained robust double digit growth thanks to the addition of more than 10 million month-on-month new mobile subscribers, leading to equipment purchase by telecom operators to expand their networks, survey by an industry journal said.
Of the three components of the telecom equipment industry, carrier equipment business grew the fastest at 27 per cent in 2008-09 to report revenues of Rs 72,616 crore, followed by enterprise equipment with revenues of Rs 15,242 crore, a growth of 15.4 per cent, and phone sets with revenues at Rs 26,669 crore, a modest growth of six per cent, due to crashing handset prices, Voice&Data's annual survey added.
As large business organisations bought equipment for video conferencing, wireless local area networks, network security, network storage and voice solutions, cost saving and productivity enhancement technologies continued to be a strong growth area in the slowdown-hit enterprise technology market, the survey said.
Meanwhile, a leading information technology market research and advisory firm said it expects global IT spending to turn positive in 2010, projecting a growth of 2.9 per cent before doubling to 5.7 per cent in 2012.
For 2009, the Boston-based IDC has projected global IT spends to contract to a negative growth of 1.8 per cent. It said global telecommunications services growth will drop to 3.2 per cent in 2009 and further dip to a 2.1 per cent growth in 2012.