India' software exports seen up 16-18% in FY12
India's software and services exports are seen rising 16-18% in the year to March 2012, an industry body said on Wednesday, as demand for outsourcing services by Western clients is expected to remain strong.
February 02, 2011 / 20:13 IST
India's software and services exports are seen rising 16-18% in the year to March 2012, an industry body said on Wednesday, as demand for outsourcing services by Western clients is expected to remain strong.
The National Association of Software & Services Cos (NASSCOM) forecast export revenue of USD 68 billion to USD 70 billion for India's showpiece outsourcing sector in fiscal 2012.India's IT sector, whose clients include General Electric and Citigroup, would see export revenue rise 18.7% to USD 59 billion in fiscal 2011, NASSCOM said.It had estimated export revenue of USD 56- USD 57 billion last February."Pent-up demand for IT-BPO services, return of discretionary spending, new business models that encouraged first time buyers, and re-invented value proposition for existing ones, were the key drivers for the industry performance," Som Mittal, president of NASSCOM said in a statement.Last month, India's top two software services exporters Tata Consultancy Services and Infosys Technologies said business remains good in 2011 but were worried Europe's debt crisis and rising domestic inflation could weigh on growth. India's share in the global outsourcing market rose to 55% in 2010 from 51 in 2009, NASSCOM added, as demand from the U.S. market and banking and financial services industry grew. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
