IT-BPO exports to reach $50 Billion in FY'10
By siliconindia   |   Thursday, 04 February 2010, 22:41 IST   |    15 Comments
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IT-BPO exports to reach $50 Billion in FY'10
New Delhi: Growing at 5.5 percent and sticking to the earlier guidance of 4-7 percent growth, Indian software services and BPO export revenue is estimated to touch $50 billion in value in 2009-10. Som Mittal, President, NASSCOM said, "It's a historic moment for the Indian IT-BPO industry as it touches the $50 billion landmark. The growth was led by domestic market buoyed by increased government spending in IT. In addition, new areas such as engineering services and product development displayed phenomenal momentum clocking a combined revenue of over $10 billion." Industry association Nasscom gave a better outlook for the next fiscal (FY 10-11) saying Software and Services exports revenues would grow by 13-15 percent. Nasscom had earlier given the guidance that exports would grow between 4-7 percent this fiscal. Releasing the Indian IT-BPO sector performance estimates for FY09-10, it said, "Export revenues for the Indian IT-BPO industry are expected to record a growth of 5.5 percent, to reach $49.7 billion in FY 09-10." The industry growth rate has come down from 32 percent four years ago to single digits now. The industry was, however, more bullish on the $50 billion mark.

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