IT-BPO industry clicks 28% growth this fiscal

The Indian IT-BPO industry (including domestic market) recorded an overall growth of 28% to the tune of $52 billion in the fiscal year of 2007-08, up from $ 39.6 billion in the fiscal 2006-07, according to Nasscom, the apex IT-BPO industry body. The software and services exports segment grew by 29% (in dollar terms) to register revenues of $40.4 billion last fiscal, up from $31.4 billion in the previous year. The domestic segment grew by 26% (in rupee terms) to register revenues of $ 11.6 billion last fiscal. Within the export segment, IT services exports have grown by 28% (in dollar terms) to clock revenues of $ 23.1 billion while BPO exports are up by 30% (in dollar terms) registering revenues of $ 10.9 billion. According to Nasscom, the overall software and services revenues will grow in the range of 21-24% to touch $50 billion in FY08-09. “The Indian IT-BPO industry’s resilience is reflected in its FY07-08 performance, with a 28.2% overall growth rate and next year’s projected growth between 21-24%. Given that we are well on our way to achieve the target of $60 billion in exports by FY09-10, the industry is now focusing on improving productivity, efficiency, as well as opening up new markets and services” said Som Mittal, president, Nasscom.