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IT exports to top $17 B: Nasscom
By siliconindia
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Monday, 14 March 2005, 20:30 IST
NEW DELHI: The IT-ITeS exports from India will touch $ 17.9 billion in 2004-05, a expected growth of 34.58 percent over last fiscal export revenue figures, according to Nasscom Strategic Review, 2005.
"IT-ITeS exports grew to $ 13.3 billion in 2003-04 and the value of IT-ITeS exports from India is expected to reach $ 17.9 billion by the end of current fiscal" the report said adding the forecasted growth will translate to a CAGR of 35.3 percent during 2004-05.
In ITeS-BPO segment, the exports will cross the $ 5 billion mark in 2004-05, an increase of $1.4 billion since 2003-04 when the exports were worth $ 3.6 billion.
The IT services and software exports are likely to touch $ 12.2 billion in 05 based on the performance of the first three quarters, a forecasted growth of 32 percent during 04, the segment has clocked revenue of $ 9.2 billion.
Indian IT services and software which are expected to exceed $ 16.5 billion in 05, grew by nearly 30 percent in 04, driven mostly by service exports, accounting for about 72 percent of the segment revenue, the review said adding "in spite of the ongoing rhetoric against the off-shoring of work to lower cost destinations, the economic upswing in key markets towards second and third quarters of 04 helped fuel the growth of India IT services and software exports".