"India offers the best solution to manage resources and IT budgets and improve competitiveness, even in today’s difficult environment. However, factoring the impact of the global economic crisis in the second half of 2008-09, the industry is expected to grow by16-17 percent by March 2009. Despite an uncertain economic environment, the Indian IT-BPO industry will see sustainable growth over the next two years and our estimates indicate the industry will clock revenues of $60-62 billion by FY 11.”

“We also feel that this is a time of learning and optimization for the industry, we would urge our member companies to see this as a silver lining”, Mittal concluded.

Pramod Bhasin, vice chairman, NASSCOM and President & CEO, Genpact, said “At an employee level, the industry continues to focus on training and building higher end skills and capabilities that enable employees to gain domain expertise. Performance benchmarking and skill upgradation will be strong measurement parameters for the industry as customer expectations of Indian companies will be higher."

"Overall, the industry will remain a net hirer. From an employee perspective, with lower attrition, industry workforce will stabilise and this trend will extend into wage moderation in the coming year. The industry has also spread across tier 2 and 3 cities in India and is creating employment opportunities for workforce in these centres, and is helping economic development beyond metros.” 

“NASSCOM continues to focus on its long term initiatives including talent and skill building, security and infrastructure in addition to its focus areas for the year including Green IT and Corporate Governance”, he added.