With 14% growth assured, Indian IT exports may reach $87 bn in FY'14
"Increase in global technology spending and opportunities created through adoption of disruptive technologies are expected to propel growth in FY'14.
"Nasscom expects the industry to clock export revenues of USD 84-87 billion maintaining a growth rate of 12-14 per cent," the National Association of Software and Services Companies (Nasscom) said in a statement.
Domestic revenues, on the other hand, are expected to grow at 13-15 per cent to reach Rs 1.18-Rs 1.20 lakh crore, it added.
"The Indian IT-BPM industry has demonstrated resilience and agility in the past year. Technology has today become an integral enabler for growth across all sectors and the industry is continuously evolving and innovating to emerge as a strategic partner to its customers," Nasscom Chairman N Chandrasekaran said.
Exports from the industry, which counts the US and Europe as its biggest markets, were estimated to have grown 10.2 per cent to USD 75.8 billion in FY'13.
Given the economic uncertainty, Nasscom had predicted growth in the sector to be between 11-14 per cent and later said only the lower end of the target would be met. The domestic market witnessed annual growth rate of 14.1 per cent taking revenues to over Rs 1.04 lakh crore.
"FY2012-13 can be characterised as the year of rapid transition and transformation, leading the industry into expanding
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