Software & services exports revenue to grow just 4-7%: Nasscom

After a dream run for years, India's export revenues from software and services industry is expected to see just 4-7 per cent growth this fiscal and the downturn is likely to continue till mid-2010, industry body Nasscom said.

The software and services exports revenue may grow by 4-7 per cent in FY09, Nasscom Chairman Pramod Bhasin told reporters here while pointing out that the software and services industry has done remarkably well, despite the global meltdown.

"While there are signs of (market) recovery, the industry has performed well to the growth rate it had... In turbulent times," Bhasin said.

Export revenues from the IT and BPO sector, he said, may see 16.3 per cent growth from $40.4 billion in 2008 to $46.3 billion in 2009.

Moreover, the core markets like banking and financial services industry have started to stabilise and increased investments are expected to yield results in the year aheads, he stated.

Business Process Outsourcing Sector growth would be led by procurement outsourcing, analytics and also by the KPO.

Stating that this is one the worst recession that the world has seen he said, "Opportunities exist in health care, retail, eduation sectors."