Indian IT Software and Services Revenues to reach US $50bn mark in FY 07-08
Industry records a revenue of USD 39.6 billion in FY 2006-07; exceeds forecast of 27% to register a growth of 30.7%
Industry revenues projected to grow at 24-27% in FY 2007-08
TCS, Infosys and Wipro maintain their position as the Top 3 exporters in the NASSCOM Top 20 IT software and services exporters rankings
NASSCOM, the chamber of commerce and ‘voice’ of the IT software and services industry in India, today announced the findings of its annual survey on the performance of the Indian software and services sector (excluding hardware) and outlook for FY 2007-08. As a part of the survey, NASSCOM also released the annual ranking of Top 20 IT Software and Service exporters in India in FY 2006-07 (excluding ITES-BPO revenues). TCS maintained its position as the leading exporter followed by Infosys and Wipro respectively.
According to the annual NASSCOM survey, the Indian IT-ITES industry (including domestic market) recorded an overall growth of 30.7% as against a projected growth of 27%, clocking revenues of USD 39.6 billion in FY 2006-07 up from USD 30.3 billion in FY 2005-06. The software and services exports segment grew by 33% to register revenues of USD 31.4 billion in FY 2006-07 up from USD 23.6 billion in FY 2005-06. The domestic segment grew by 23% to register revenues of USD 8.2 billion in FY 06-07 up from USD 6.7 million.
Within the export segment, IT services exports have grown by 35.5% to clock revenues of USD 18 billion; while ITES-BPO exports up by 33.5% registering revenues of USD 8.4 billion. Engineering services and products exports clocked revenues of USD 4.9 billion, growing at 23% in FY 2006-07.
