IT, BPO export to grow 3-fold to $175 bn by 2020: Nasscom
Mumbai, Feb 7 (PTI) With a steady recovery in major markets such as the US and Europe, Indian IT and BPO export is likely to grow three-fold to USD 175 billion in revenue by end -this decade, apex software industry body Nasscom said today.
February 08, 2011 / 09:10 IST
With a steady recovery in major markets such as the US and Europe, Indian IT and BPO export is likely to grow three-fold to USD 175 billion in revenue by end -this decade, apex software industry body Nasscom said today.
However, in 2011, the IT industry will witness a flat growth at 18%. Last year, revenues from software exports and BPO services stood at USD 59 billion, it said."IT will continue to play a significant role in the transformational agenda of India. Export revenue is expected to increase three times at USD 175 billion by 2020. However, among the various segments in the sector, the IT segment will continue to perform better than the BPO industry and software and engineering products," Nasscom President Som Mittal told reporters here.India contributes about 55% to the global outsourcing of IT-ITES services and about 26% in the exports market. Of the total export in FY 10, IT services witnessed a growth of 27% followed by BPO at 12% and software production at 10%.In FY 11 as well, major export revenue came from IT segment.
Nasscom, which will conduct its 19th leadership forum here from February 8-11, also forecast that the current decade will witness a major demographic shift, that would fuel the growth of sectors such as retail, health and education that will start including IT services."About 80% growth will be driven outside the current core and traditional sectors, verticals and customer segments," Mittal said. 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!
