ITES to touch $3.6 b this year

NEW DELHI: As per Nasscom estimates, the Indian ITES-BPO industry grew by 59.1 percent during 2002-03 and is likely to grow by about 54 percent to reach $3.6 billion by 2003-04.

It has emerged as the highest-growth sector for the Indian industry. Over the last few years, Nasscom has made considerable efforts to position India as an attractive ITES-BPO destination and has identified this sector as a major opportunity for employment and earning foreign exchange for India. It is estimated that 2,45,000 people are employed in this sector and is bound to increase significantly in the coming years.

The Indian ITES-BPO industry continues its strong upward spiral on service lines like customer care, finance, HR, administration, billing and payments services, etc. According to Nasscom, revenues from customer care doubled during 2002-03 registering a growth of 102 percent.

A similar trend was witnessed in payment service, which grew by over 90 percent during 2002-03. Other service lines like finance, HR and administration are also expected to grow significantly over the next few years.

(CyberMedia News Service)