IT industry to clock $15.5 billion in 2004

By SiliconIndia   |   Friday, 23 January 2004, 08:00 Hrs
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MUMBAI: The IT industry could touch a total revenue of $15.5 billion in 2004 against $12 billion last year, according to the Nasscom outlook for 2004.

Total revenue of the IT software and service industry is estimated to be $15.5 billion in the current year, Nasscom said in its outlook for 2004.

Software and services exports are projected to achieve 26-28 per cent growth which translates into $12 billion and the ITeS-BPO segment is projected to touch $3.6 billion, an estimated growth rate of 54 per cent.

In 2003, software exports were around 9.5 billion dollars and ITeS-BPO sector revenue was $2.3 billion.

IT services, products and technology services are projected to grow by 17 per cent to touch revenues of over $8.4 billion in 2004. In 2003, it was $7.2 billion.

Software exports provided employment to 6.5 lakh people in 2003 while ITeS-BPO segment employed 1.71 lakh people, Nasscom said.

Share of software exports to India's export revenue is around 20.4 per cent at present, taking into account 2003 software export revenues.

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