Indian IT-BPO revenue to cross $100 b in FY'12

Indian IT-BPO revenue to cross $100 b in FY'12

Nasscom (National Association of Software and Services Companies), the representative body of the IT-BPO industry, in a release said on Wednesday that the revenue of the Indian IT-BPO sector is expected to cross the landmark $100 billion in 2011-12.

Continuing as the bastion for the sector, exports accounted for $ 69 billion, growing by 16.3 percent over the last fiscal year.

The findings were released by Nasscom Chairman Rajendra Pawar along with its President Som Mittal. The IT-BPO sector continues to be one of the largest employers in the country directly employing 2.8 million professionals, with over 230,000 jobs being added in FY2012, the release said.

“The industry performance this year demonstrated the sector’s ability to innovate and deliver differently in order to maintain the growth trajectory. The Indian IT companies are investing in building platforms and productised solutions to drive future growth opportunities,” said Rajendra Pawar. More importantly, the industry is expanding into newer geographies and verticals where the growth is 1.4 time that in the mature markets, he said.

On this occassion Som Mittal said, “Indian IT-BPO firms have matured from being service providers to strategic partners to their customers – highlighting their importance in enabling growth of customer businesses. Verticalisation, operational excellence and an expanding global delivery model were priorities for us.”

He also added that the domestic market for the last couple of years has been growing faster than the exports sector and would continue to be a key thrust area for the industry.

Nasscom said that India retains its number one position as the world’s leading sourcing location for IT-BPO services, despite the rise of several alternative sourcing locations, with a share of over 58 per cent in 2011.