The Hindu Business Line : IT sector share in GDP rises to 5.2 %

Mumbai, Feb. 14 The Nasscom-Deloitte study on Indian IT Industry: Impacting the Economy and Society says the IT/ITES industry’s contribution to the country’s GDP has increased to a share of 5.2 per cent in 2007, as against 1.2 per cent in 1998.

The key findings of the study released here also said the industry contributed to foreign exchange reserve of the country by increasing export by almost 36 per cent. The study pegged export earnings in 2008 at $40 billion.

The study said in 2008, the direct employment from the industry is expected to be 2 million, growing at a CAGR of 26 per cent in the last decade. Four additional jobs are created for every direct job, the study said. According to the study, 75 per cent of the workforce employed in these jobs are SSC/HSC or less educated.

The industry has had a multiplier effect on other sectors of the economy. $15.85 billion spent by the IT/ITES industry in the domestic economy in 2006 generated an additional output of $15.5 billion, the study said.

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