NASSCOM Releases Indian IT Software and Services - FY09 Performance and Future Trends:
Industry exhibits resilience against global economic turbulence

NASSCOM, the premier trade body and ‘voice’ of the Indian IT-BPO industry, on Feb 04, 2009 released the performance for FY 2008-09, for the Indian IT Software and Services sector. According to the findings, the aggregate revenues of the sector are expected to reach USD 60 billion (including domestic revenues, excluding hardware) by FY 09. Export revenues for the Indian IT-BPO industry (excluding domestic market and hardware exports) is expected to record growth of 16-17% in FY09 and clock revenues of USD 47 billion in 2008-09.

Export revenues are expected to reach ~USD 47 billion by the end of FY09, growth pegged at 16-17%

Software and services revenues aggregated to USD 60 billion (including domestic revenues, excluding hardware)

Domestic IT-BPO market in India to cross INR 1110 billion by FY2009 exhibiting ~20% growth rate

Growth estimates for FY11 project USD 60-62 billion revenue in exports

Industry will continue to be a net hirer and focus on value creation, direct employment at 2.23 million; indirect job creation estimated at ~8 million



Mr. Som Mittal, President, NASSCOM said “Due to our strong fundamentals and as a derivative of the value we add to our global customers, the Indian industry will continue to grow inspite of global slowdown. Besides cost savings, customers derive great value from transformation of processes, access to critical resources, quality trained workforce and reduced reaction time, from the Indian industry. India offers the best solution to manage resources and IT budgets and improve competitiveness, even in today’s difficult environment. However, factoring the impact of the global economic crisis in the second half of 2008-09, the industry is expected to grow by16-17% by March 2009. Despite an uncertain economic environment, the Indian IT-BPO industry will see sustainable growth over the next two years and our estimates indicate the industry will clock revenues of USD 60-62 billion by FY 11.”

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