IT Growth in India

IT Growth in India

The latest numbers released by the companies involved are around USD 1700 crores for export revenues from software and services. The industry employees more than a million people in the country. The IT industry body NASSCOM has even claimed that the industry is now rubbing shoulders with some of India’s most lucrative sectors.

Nasscom finds that overall software and service revenues grew to $2,200 crore in 2004-05, a 32 per cent jump over 2003-04. The Indian based BPOs have captured 44 per cent of total worldwide outsourcing in value terms (worth $1,720 crore).

Nasscom President Kiran Karnik had this to say about these latest figures: ‘‘Performance of the software and services exports industry once again reinforces our confidence in attaining the projected target of $5,000 crore in 2008-09.’’

These latest figures are the best for the country in around five years. Nasscom Chairman S. Ramadorai had these words: ‘‘The software and services industry has been able to maintain its growth momentum and consolidate its partnership with overseas customers. The industry also scaled record levels of employment in FY 04-05, with the employee base crossing the 1 million mark.’’