IT-BPO exports to touch $50 bn in FY 10

Indian software services and BPO export revenue is estimated to touch $50 billion in value in 2009-10, growing at 5.5 per cent and sticking to the earlier guidance of 4-7 per cent growth.

Industry association Nasscom, however, gave a much better outlook for the next fiscal (FY 10-11) saying software and services exports revenues would grow by 13-15 per cent.

Nasscom had earlier given the guidance that exports would grow between 4 and 7 per cent this fiscal, given that exports have grown as per the estimates.

Releasing the Indian IT-BPO sector performance estimates for FY09-10, it said "export revenues for the Indian IT-BPO industry are expected to record a growth of 5.5 per cent, to reach $49.7 billion in FY 09-10". The industry growth rate has come down from 32 per cent four years ago to single digits now.

The industry was, however, more bullish on the 50-billion dollar mark.

Som Mittal, President, Nasscom, said, "It’s a historic moment for the Indian IT-BPO industry as it touches the $50 billion landmark. The growth was led by domestic market buoyed by increased Government spending in IT. In addition, new areas such as engineering services and product development displayed phenomenal momentum clocking a combined revenue of over $10 billion."