The Indian technology and business services industry has the potential to achieve $225 billion in revenues, including exports, by 2020 and the country can emerge as one of the top three global IT innovation hubs driven by opportunities arising in new areas of climate change, clinical research and mobile applications, the National Association of Software and Service Companies (Nasscom) said. In its latest report titled 'Perspective: Transform business, transform India, 'Nasscom said by 2020, 80 percent of the industry's incremental growth and 50 per cent of the total opportunity would come from untapped verticals public sector, healthcare, media, and utilities, customer segments. The report, based on extensive research conducted by McKinsey & Company over a year,, outlines specific measures that the industry, Nasscom and the gove4rnment need to undertake over the next 12 years to realize these opportunities. According to Nasscom Chairman Pramod Bhasin, "The Indian IT industry has grown form $2 billion in export revenues in 1998 to $47 billion today, employing over 20-lakh people." Commenting on the opportunities for the industry, Nasscom President Som Mittal said: "The Indian IT industry is in the midst of unprecedented times because of the current economic environment.
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