The Indian software and services industry is expected to grow 16 per cent this fiscal and log revenues of $60 billion despite the global slowdown, a top lobby for the industry said on Wednesday.
The National Association of Software and Service Companies (Nasscom) said together with the business process outsourcing (BPO) sector, the revenues are expected to top $71.7 billion with a growth of 17 per cent.
Of this, the export of software and services will account for $47 billion, growing by 16-17 per cent. The association also said that the domestic BPO industry would log a growth of as much as 40 per cent this fiscal.
“The current financial year has been challenging for economies across the globe. But the Indian IT-BPO industry has exhibited a balanced growth,” said Ganesh Natarajan, chairman of Nasscom and global chief executive of Zensar Technologies.
“We have seen Europe, Asia Pacific and rest of the world grow more than US, reaffirming geographical diversification as an encouraging trend for this industry,” Natarajan told reporters, while releasing the association's report.