Advertisment

Day 1: Nasscom unperturbed by Iraq crisis in short term

author-image
CIOL Bureau
New Update

MUMBAI: The war clouds on Iraq notwithstanding, Nasscom predicted Indian software industry will end the current fiscal at a 30 per cent growth rate as predicted. And coming to India’s rescue is the burgeoning ITES-BPO business. However, the impending war remains as a point of worry for the business leaders.

Advertisment

Showing clear signs that bucked the global economic trend, Indian software industry posted $6.9 billion (Rs 34,000 crore) for the April to December, 2002 period compared to $5.6 billion (Rs 26,600 crore) the same period the previous year, marking a growth of 28 per cent.

The primary driver has been the ITES-BPO segment contributing a 61 per cent as against the 21 per cent from IT services. The survey also reveals that the targets on these segments are increasing.

In the IT Services, Indian vendors are getting into new service lines like IT and Network consulting, packaged software installation and Support and systems integration. The ITES-BPO segment apart from offering services like Customer Care, Finance and HR are also moving into segments like engineering design, animation and research and development services.

For the 2002-2003 period, manufacturing vertical will increase by 14%, Retail sector will increase to 5%, Utilities to 3% and Healthcare will increase to 5%. In the Indian Software Exports, onsite services that contributed Rs 16,500 cr in 2001-02 will increase to Rs 18,500 in 2003-03. Similarly, offshore activity will increase from Rs 18,500 crores in 2001-02 to Rs 27,500 crores in the year 2002-03.

The Nasscom survey also reveals that North America continues to be the prime destination for IT Services and ITES-BPO segment, followed by Europe, Japan, Asia Pacific and the rest of the world.

tech-news