India's FY'10 software services exports to touch $50 billion

Export revenues of the Indian IT-BPO industry are expected to record a growth of 5.5 per cent to reach $49.7 billion in the current financial year (2009-10) despite the impact of the global economic slowdown.

Software exports from the country are expected to rise to over $56-57 billion in the financial year 2010-11, from  $49.71 billion in 2009-10 and $47.16 billion in 2008-09, the National Association of Software and Services Companies (NASSCOM) said in a release.

The Indian IT industry has emerged stronger from the global economic meltdown to post encouraging results and the domestic market for the IT industry is expected to witness 12 per cent growth in FY09-10, to reach Rs66,200 crore, according to NASSCOM.

The IT industry in India will continue to be a net hirer and the direct employment is expected to grow 4.0 per cent and cross 2.3 million with over 90,000 jobs added in FY09-10, according to NASSCOM.

For the financial year 2010-11, NASSCOM expects India's software and services exports revenues to grow 13-15 per cent and domestic revenues to grow by 15-17 per cent.

The government's IT spend is projected at Rs15,000 crore in 2009 and is expected to reach Rs25,000 crore by 2011. NASSCOM also projected a $9 billion business opportunity in e-governance in the country.