Monday, February 21, 2011

Indian software and services sector expected to grow: Nasscom

Nasscom has released the key findings of the Indian IT-BPO sector performance for FY 2010-11. Amidst speculation and an uncertain global economic environment, the Indian IT-BPO industry once again exhibited buoyancy and maturity, reflected through a strong customer demand in FY 2010-11. 

The IT-BPO industry (excluding hardware) witnessed a quick rebound in growth and is estimated to grow by 19 %, aggregating revenues of $ 76 billion this fiscal year. While exports continued to be the mainstay of the industry with revenue of $59 billion, the domestic market demonstrated steady growth of 16 % to aggregate Rs. 787 billion. Direct employment is expected to reach nearly 2.54 million, an addition of 240,000 employees. As a proportion of national GDP, the sector revenues are estimated 6.4 per cent in FY2011.

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