Amid signs of fast recovery from the impact of global economic slowdown, the information technology and business process outsourcing (BPO) industry would see its exports reach $50 billion in the current financial year, registering a growth of over 5 per cent. Similarly, export revenues are likely to grow at 13-15 per cent next fiscal to cross $57 billion, with the US remaining the dominant market.

In its yearly performance report, the National Association of Software and Service Companies (Nasscom) has said the domestic IT-BPO market is likely to reach Rs.66,200 crore, clocking a growth of 12 per cent, while in the next fiscal domestic revenues are likely to grow by 15-17 per cent to touch Rs.76,100-77,500 crore, particularly due to government IT spending.

The report also said the industry would continue to remain a net hirer where direct employment in Indian IT-BPO is estimated to cross 23-lakh and indirect job estimated to reach 82-lakh. “This fiscal over 90,000 new jobs will be added, while in the next fiscal this can go up to 1.5-lakh,” said Nasscom President Som Mittal.

Declining that the U.S. government’s “protectionist move” would have any major impact on the Indian IT industry, he pointed out that the industry was rapidly expanding into tier II and II cities, while 58 per cent employee workforce originate from these cites.

Significantly, before the recession, the industry was adding almost three-lakh jobs annually. Source

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