India’s outsourcing industry to grow by 32 percent

India’s software and services exports are estimated to grow by 32 per cent to US$23.4 billion in the fiscal year ending March 31, according to data released Thursday by the National Association of Software and Service Companies (NASSCOM).

IT services, including software development, are expected to contribute $13.2 billion to exports in the current fiscal year, while business process outsourcing (BPO) and call centres are likely to contribute $6.3 billion, according to NASSCOM in Delhi. Engineering services, research and development (R&D) services, and product development work are expected to contribute another $3.9 billion.

The total Indian software and services industry, including sales to the domestic market, is estimated to grow during the fiscal year by about 31 per cent to US$29.5 billion.

Employment in the country’s software and services sector is likely to reach 1.3 million by March 31, according to NASSCOM, of which about 922,000 are employed in the export sector.

India’s outsourcing industry is riding a boom in outsourcing. A report released in December by management consulting firm McKinsey & Co. and NASSCOM was upbeat about the prospects for India’s outsourcing industry. India can sustain its global leadership position in offshoring, and grow its IT and BPO industries at an annual rate of over 25 per cent to generate export revenues of about $60 billion in 2010, the report said.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now