India is at the edge of a precipice

India is at the edge of a precipice. It can now take off and soar, going ever higher, it can stay where it is; or it can suddenly begin to fall. Giving it wings and confidence is the IT-BPO sector.

Having established India as the back-office of the world and the hub for the global IT services, this sector is now poised to not only grasp emerging opportunities but, indeed, to create them.

For some years, India has been the dominant force in global IT outsourcing. It is now emerging as a major global investor. This new form of globalisation is, on the one hand epitomised by India's newly-dynamic manufacturing sector acquiring the companies abroad in the sectors like pharmaceuticals, engineering and, of course, steel.

On the other hand, Indian IT companies are not only acquiring the companies abroad, but are themselves setting up large development centres in the countries as diverse as Chile, Uruguay, Hungary, Egypt and China, besides - of course - the US, UK and Europe.

It is this theme that will be emphasised at Nasscom's annual India Leadership Forum, beginning today. The key focus this year will be on how the Indian IT-BPO industries can contribute to the world, through their globalisation efforts, their unique products and services, domain strengths, international, multi-cultural workforce and trade cooperation and partnerships with businesses in peer nations.

Recognising the fact that immense opportunities are opening up, India is keen to work together with different organisations and stakeholders-the Government and academia-to chart out a global roadmap for the IT-BPO industries. Even as it reaches out to the world, the Indian IT-BPO industry is now devoting increasing attention to the domestic market.

Besides, an ambitious National e-Governance Programme will see IT being used not only for better citizen services, but also to ensure greater transparency and accountability in governance. The Nasscom conference will discuss these aspects too, including through a whole parallel track on Corporate Social Responsibility.

Nasscom will also acknowledge the contribution of great leaders through the Global Leadership Awards, to be presented on February 8. The conference promises great intellectual fare - spiced with some entertainment evenings and endless opportunities for networking.

The writer is the president of Nasscom