Indian IT Industry

Indian software industry will touch $60 bn in 2009

Nila ,Technopark ,Trivandrum

• The Indian software and services industry is expected to grow 16 percent this fiscal and log revenues of $60 billion despite the global slowdown. The National Association of Software and Service Companies (Nasscom) said in its report that together with the business process outsourcing (BPO) sector, the revenues are expected to top $71.7 billion with a growth of 17 percent.
• Due to the strong fundamentals and as a derivative of the value of global customers, the Indian industry will continue to grow in spite of global slowdown.

Following are the key highlights of Nasscom's projections:
-Total IT-BPO industry to touch 71.7 billion in 2008-09
-The industry to account for 5.8 percent of the country's gross domestic product
-Domestic BPO market to growth by over 40 percent
-BPO exports estimated to grow by 17.5 percent to $12.8 billion
-IT services exports estimated to grow by 16.5 percent to $26.9 billion
-Software products, engineering services to grow by 14.4 percent to $7.3 billion
-Exports to Europe log highest growth, while US remains dominant market
-Uncertain economic environment to prevail in 2009
-Indian IT industry expected to grow 15 percent annually till 2010-11
-Exports projected to $60-62 billion by 2010-11
-Industry remains a net hirer with 2.23 million new direct Jobs
-Indirect job creation estimated at 8 million (IANS)