Tuesday, June 26, 2007

India's Growing IT Sector

According to the annual NASSCOM survey, the overall IT software and services sector will grow by 24-27 per cent clocking revenues of $49-50 billion in FY08.

According to the annual NASSCOM survey, the Indian IT-ITES industry (including domestic market) recorded an overall growth of 30.7 per cent as against a projected growth of 27 per cent, clocking revenues of $39.6 billion in FY 2006-07 up from $30.3 billion in FY 2005-06. The software and services exports segment grew by 33 per cent to register revenues of $31.4 billion in FY 2006-07 up from $23.6 billion in FY 2005-06. The domestic segment grew by 23 per cent to register revenues of $8.2 billion in FY 06-07 up from $6.7 million.

Within the export segment, IT services exports have grown by 35.5 per cent to clock revenues of $18 billion; while ITES-BPO exports up by 33.5 per cent registering revenues of $8.4 billion. Engineering services and products exports clocked revenues of $4.9 billion, growing at 23 per cent in FY 2006-07. The survey also projects that the overall IT software and services sector will grow by 24-27 per cent clocking revenues of $49-50 billion in FY08.

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