Nasscom pegs double digit growth in IT exports

“We feel that IT software and service exports will attain growth in double digit in next financial year on the back of revival of economies of US and Europe which were hit by meltdown,” Nasscom Chairman Pramod Bhasin said.

Nasscom had earlier projected that the country’s software and IT exports would grow merely by 4-7 per cent to US$48-50 billion in 2009-10 in view of sluggish demand for outsourcing in the US and Europe, which are the largest markets for the Indian IT vendors.

In 2008-09, the industry grew by over 16 per cent at US$46.3 billion.
He further said India had potential to achieve IT exports of US$225-300 billion while the total direct employment in IT sector expected to reach from 4 million to 14 million in the next five years.
However, he found the lack of suitable human skills for the IT sector a major hindrance in its growth.

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