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News >> Technology >>
Nasscom sees revenue at $28 billion
By siliconindia
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Friday, 04 February 2005, 20:30 IST
BANGALORE:The Indian IT industry is expected to register a growth of 31 percent to reach revenues of $28 billion in the financial year 2004-05, Nasscom said.
The industry registered a growth of 34 percent last fiscal clocking revenues of $21.5 billion. Indian software and services exports are likely to witness a growth of 35 percent to reach revenues of $17.3 billion in the current fiscal compared to 33 percent and $12.8 billion in 2003-04.
The largest share of exports and service came from the financial sector at 40 percent in 2004; the Nasscom survey said adding that high spending was by banks, insurance and security firms. However healthcare, telecommunications, retail sector and government increased their IT budgets.
The study also notes the declining growth rate of Indian software exports was attributed to the growing share of offshore development as compared to on-site services.