Financial Daily from THE HINDU group of publications
Friday, Feb 04, 2005
Financial Daily from THE HINDU group of publications Friday, Feb 04, 2005 |
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Info-Tech
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Outlook Nasscom sees revenue at $28 b this fiscal Our Bureau
Mumbai , Feb. 3 THE Indian IT industry is expected to register a growth of 31 per cent to reach revenues of $28.2 billion in the financial year 2004-05, according to a Nasscom analysis. The industry had registered a growth of 34 per cent in the previous fiscal, clocking revenues of $21.5 billion. Indian software and services exports are likely to witness a growth of 35 per cent to reach revenues of $17.3 billion in the current fiscal compared with corresponding figures of 33 per cent and $12.8 billion in 2003-04. The Asia-Pacific region is expected to emerge as a key target region over the next few years. The financial services sector, which includes IT spending by banks, insurance companies and security firms, accounted for the largest share of Indian software and services exports at around 40 per cent in 2003-04. Emerging verticals include healthcare, telecommunications, retail and government, according to the study. The declining growth rate of Indian software exports was attributed to the growing share of offshore development as compared to on-site services.
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