Click to play videoBangalore: The IT software and services sector is poised to earn $50 billion this fiscal as against $39.6 billion in 2006-07, a Nasscom annual survey has said.
"We expect to end this year at $50 billion and I think that is a true milestone. More importantly, we continue to see huge prospects of growth both in terms of what we can deliver from here and what the demand is worldwide," said NASSCOM President Kiran Karnik on Monday.
IT software and services are expected to contribute $28 billion to $29 billion. While ITeS and BPO exports are expected to add 10 to 11 billion dollars, the domestic market will also boost its contribution. And though the projected growth for this fiscal is a modest 24 to 27 percent, it will be the highest incremental growth for the industry.
“The share that India had in 2002 was just 1 percent. In 2007 it has gone up to 7 percent. That’s a seven-fold increase,” he said.
With bigger deals and new avenues such as engineering services and animation bringing in the green bucks, the Indian IT industry seems certain to hold out against competition. And Nasscom's 60-billion-dollar dream may turn reality long before 2010.
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