After more than a decade of meteoric rise, the Indian IT sector, impacted by adverse global cues, has entered a period of relatively modest growth. While the year on year growth is still respectable, the momentum seems to be dampening. The role of the IT sector as a generator of foreign exchange and, more significantly, international goodwill is too well known to merit any further elucidation and, therefore, its present health and future trajectory is a matter of utmost importance.

The erosion of India's exclusive cost advantage due to the emergence of global competition, in conjunction with a sluggish global economy, has led to squeezed profit margins and a more competitive market. Business strategies and models which paid rich dividend during the high growth period may no longer suffice. Innovation aimed at both improving the existing service delivery mechanism and at moving up the value chain through product development is imperative for the Indian IT industry to position itself distinctively in order to better leverage its cost advantage.

While the necessity and desirability of innovation is widely acknowledged, the exact nature and dimensions thereof invite a considerable variation in opinion. There is a compelling case to understand the right kind of innovation and strategic realignment that would enable companies to offer more value to their clients and arm themselves with a competitive advantage.

The Indian Institute of Foreign Trade has a peerless legacy of investigating and analyzing the changing contours and dynamics of international business. The IIFT's National IT Symposium in association with NASSCOM furthers this tradition by attempting to deconstruct the evolving global business environment and its possible ramifications for the Indian IT industry.

The accent is on innovation- its key drivers and determinants. The Symposium, through its eminent speakers and interactive sessions, seeks to provide an intellectually stimulating platform for an exchange and origination of ideas.

As a period of inner churning seems an imminent possibility, innovation would, in all probability, distinguish the leaders from the followers and determine the onward course and tendency of the Indian IT industry.

• Provide a platform to business leaders to share their vision on preparedness of Indian IT industry to face the challenges and stay competitive in an environment driven by emerging business needs, demanding clients and dynamic market forces.
• Explore the potential of innovative technological and business models which can serve to provide a differentiated value proposition to the clients.
• Make the aspiring young managers aware of the expectations, challenges and the forces driving the Indian IT industry.