India's IT Growth Story

I just laid my hands on one of my most awaited magazines of the fortnight, Data Quest. And just the initial reaction on going through it was of elation. Some of things it talks about seemed obvious and some unexpected.
The very first thing to catch my attention was India's IT domestic market growing at higher rate than exports. One thing plaguing Indian economy has been export led GDP and not the other way around, as sound economics demands. So thankfully something happening in one sector can be expected to spread to others.
I sincerly hope that its not a fluke or one time aberration but the rule now.
Even more heartening was to know about half a dozen deals signed in domestic market each worth more than Rs. 1bn each. A great sign for good times ahead.
Also there have been numerous M&A's including Wipro buying Infocrossing. There have been many more deals though not as big but still substantial. WHat was not surprising was that most of the deals involve US market which considering its size and importance is the most sensible thing to do.
But the sweetest music to us (we are strategic consultants specialising in IMS) is the fact that within IT services exports the fastest growing area is Infrastructure Services with more than 125% growth rate. Honestly we already know the potential in this segment and this fact is just a restatment of what we know. It's but obvious that couple deals worth more than $1bn each have been signed in IMS market.
What becomes clear now is that IMS is heading for even bigger pie of the IT market and india will be leading from the front, again.