Indian IT-BPO industry to touch $71.7bn in FY09

NEW DELHI, INDIA: NASSCOM, the premier trade body and ‘voice’ of the Indian IT-BPO industry, today released the performance for FY 2008-09 for the Indian IT Software and Services sector. Despite the global economic turbulence, the industry exhibits resilience it said.

According to the report, the total IT-BPO industry is projected to reach US$ 71.7 billion accounting for 5.8 per cent of India’s GDP while the aggregate revenues of the sector are expected to reach $60 billion (including domestic revenues, excluding hardware) by FY 09.

Export revenues for the Indian IT-BPO industry (excluding domestic market and hardware exports) is expected to record growth of 16-17 per cent in FY09 and clock revenues of $ 47 billion in 2008-09.

The NASSCOM findings projected that domestic IT-BPO market in India would cross Rs. 1,110 billion by FY2009 exhibiting 20 per cent growth rate, whereas hardware is estimated to grow by 17 per cent to touch Rs. 540.7 billion.

IT Services is estimated to grow by 20 per cent to fetch Rs. 380.2 billion while software products are estimated to grow by 15 per cent to touch Rs. 103.3 billion.

According to NASSCOM, the BPO industry is estimated to grow by 40 per cent to be Rs. 88.7 billion.

Dr. Ganesh Natarajan, chairman, NASSCOM and Global CEO, Zensar Technologies said, “2008-09 has been challenging for economies across the globe. However, the Indian IT-BPO industry has exhibited a balanced growth.”

According to him the Indian IT-BPO industry is a major contributor to the economy and has a multiplier effect in terms of export earnings, investment, employment and overall economic and social development.

“We are hopeful that the government will continue to recognize the contribution of this sector and will stimulate investor confidence and growth by extending fiscal incentives to this industry and boosting domestic IT spend through the allocated IT budgets.”

Som Mittal, president, NASSCOM said: “Due to our strong fundamentals and as a derivative of the value we add to our global customers, the Indian industry will continue to grow in spite of global slowdown. Besides cost savings, customers derive great value from transformation of processes, access to critical resources, quality trained workforce and reduced reaction time, from the Indian industry.”

He said 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% 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 USD 60-62 billion by FY 11,” he added.

Name
Email
Comment Here
Code Verification

Google India gets forex violation notice

Websites to help you plan the 'perfect V-Day'

Five Chinese held for theft of 1,600 iPhones

Gaga launches her social networking site

Symphony merges with Teleca

Aakash tablet booking crosses 20 lakh

'IT is like a business partner for PTI'

Sleazegate: Technology spares none

Jailbreak software released for iPad 2 iOS 5.0.1

Why this blackout, Wiki?

Subscribe to PCQuest for iPad & Android tablets

Register Free at DQ Top 20 Online portal & get insights on the Indian IT Industry

Enterprise IT News and Analysis in your inbox

Subscribe to the free PCQuest newsletter

Growth of SME Sector in India

India's EXIM Policy 2010 / 11

Interaction with SMB Association Heads

Profiles of leading SMB Associations

RBI Guidelines on lending to SMEs

Sponsored Links

Custom Site

Demo Downloads On :

1-Click News Updates