India's IT-BPO industry set to touch $75 billion by 2010: Nasscom

• IBTimes RSS
• Print
• E-Mail
• digg
• Del.icio.us

Releasing the Strategic Review for 2008 during the India Leadership Forum in Mumbai, Feb. 13, Nasscom Chairman Lakshmi Narayanan said despite weak global markets, the Indian IT industry continues to perform very well and is set to achieve a healthy 33 percent growth in the fiscal year 2008 (FY08).

"Positive market indications and strong records support the optimism of the industry in achieving its aspired target of $60 billion in software and services exports and $73-75 billion in overall software and services revenue by fiscal 2010," Narayanan said.

"The robust growth of the Indian IT-BPO industry by over 33 percent in the current fiscal reinforces the confidence of global corporations in India. As we move, the trend indicates that the industry is firmly poised for broad growth across industry and service lines. It strengthens India's leadership position as the primary sourcing location for software IT experimentation and business process related services," he added.

Earlier, Nasscom had forecast the software services revenues to rise 24-27 percent to reach $49-50 billion in the year ending March 2008.

For FY07, the total IT industry (including domestic segment and hardware) was $48 billion. Of this, the total revenue from software and services (exports) was $31.3 billion and ITeS-BPO revenue was $9.5 billion for FY07.

For FY08, the share of exports and domestic market for the ITES-BPO segment was $10.9 billion and $1.6 billion respectively. Engineering services, R&D and software products saw an export of $6.3 billion and domestic sales of $2.2 billion.

Giving the sector-wise break-up, Nasscom said, out of the estimated $31 billion from IT services, $23.1 billion came from exports, with the domestic market contributing the balance.

IT services (excluding BPO, product development and engineering services), contributing 57 percent of the total software and services exports, remains the dominant segment and is expected to cross $23 billion, a growth of 28 percent in FY08.

Including hardware, India’s IT industry is estimated to be worth $64 billion, up 37.5 percent from the previous year.

• 1
• 2
• 3