Nasscom predicts positive future for Indian IT

By agencies   |   Wednesday, 12 July 2006, 19:30 IST
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NEW DELHI: A study by Nasscom has brought to light the fact that the Indian IT industry will be worth $38 billion in 2006-07 due to cross-border mergers and acquisitions, stable pricing model and a gradual positive shift in the outsourcing. The projected growth is bound to reach high of between 25 percent and 28 percent. The emergence of a more efficient global delivery model, the unbundling of large IT outsourcing deals with larger India-based delivery shares, and the bagging of large contract by the players have been termed responsible with the domestic market growing by 20 percent and IT-ITeS (information technology enabled services) exports by 27-30 percent in 2006-07, posting revenues between $29 billion and $31 billion. The strong growth is heightened by the industry along with the increase in offshore outsourcing by global majors. There was an increase in the scope and scale of the offshoring engagements and a focus on traditional services.