According to the key findings of the Indian IT-BPO sector performance for FY 2010-11, National Association of Software & Services Companies (NASSCOM) says the sector displayed buoyancy and maturity, reflected through a strong customer demand in FY 2010-11, despite an uncertain global economic environment.
NASSCOM said, the IT-BPO industry (excluding hardware) witnessed a quick rebound in growth and is estimated to grow by 19 per cent, aggregating revenues of $76 billion this fiscal year.
While exports continued to be the mainstay of the industry with revenue of $59 billion, the domestic market demonstrated steady growth of 16 per cent to aggregate Rs787 billion.
Direct employment is expected to reach nearly 2.54 million, or an addition of 240,000 employees.
As a proportion of national GDP, the sector revenues are estimated 6.4 per cent in FY2011.
Speaking on the occasion, Som Mittal, president, Nasscom said, ''pent-up demand for IT-BPO services, return of discretionary spending, new business models that encouraged first time buyers, and re-invented value proposition for existing ones, were the key drivers for the industry performance.