Indian ITeS industry to touch $26B by 2009-10

By agencies   |   Thursday, 11 May 2006, 07:00 Hrs
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KOLKATA: The Indian information technology enabled services (ITeS) industry is poised to touch $10 billion by 2006-07 and $26 billion by 2009-10, according to credit rating agency ICRA.

ICRA said in its latest research report that with the global ITeS industry expected to maintain a healthy growth rate over the medium term, corporations are expected to continue outsourcing many of their labor-intensive business process service tasks to developing countries like India to gain cost savings and quality advantages.

The report said that demand growth in the ITeS industry is likely to be export-led, with the domestic market also expected to grow at a rate in excess of 50 percent.

In the report, ICRA said that the biggest challenge that the ITeS industry in India was facing was lack of good infrastructure.

It said that the ITeS sector in the country was facing the threat of rising labor costs, high attrition rates and security concerns.

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