IT-BPO industry’s growth pegged at 33% to $64 bn

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New Dealhi, Apr 11: Revenue growth of the IT-BPO sector in the country during FY 2007-08 has been estimated to be around 33% at $64 billion (of which exports would contribute $40 billion and the domestic market around $23 billion) from $48 billion in the earlier period. This accounts for 5.5% of the GDP, according to Nasscom.

The new chairman of the industry body, Ganesh Natarajan, who is CEO, Zensar, said, "Global slowdown may deal a blow to the domestic industry. However, the CAGR would still be robust enough (20 to 24%) to achieve the target of $60 billion (in exports) and $75 bilion (overall) by 2010." The industry body estimates that banking, financial services, telecom and insurance would constitute around 60% of the India IT and BPO exports pie last fiscal.

According to Nasscom estimates, direct employment generation through the IT and BPO sectors has reached 2 million and indirect employment has touched 8 million in fiscal 2007-08 in the country. In the coming year, the industry body plans to focus on education by synchronizing its own initiative with education initiatives of the government's skill's mission and strives to achieve 5 lakh registrations under the National Skills Registry (NSR). NSR was announced by Nasscom  in 2006 for registry of IT professionals and create a vendor employee database agencies hired by BPOs for transportation, catering, security and housekeeping activities. Nasscom plans to explore and develop new markets like Japan in 2008-09 while continuing to grow in present market such as the US and EU. The consortium also aims to focus attention on specific segments in the year ahead like captives, engineerining, BPO, RIM, among others.