IT industry to achieve USD 60 bn exports by 2010: NASSCOM

Mumbai, Jan 23 (UNI) Premier trade body of the country's Information Technology (IT) software and service industry, NASSCOM, has said that revenue of the Indian IT industry has grown ten-fold in the past decade, from USD 4.8 billion in the financial year 1997-98 to USD 47.8 billion during the current financial year.

If the present trend in the industry continues, then the IT sector was all set to achieve its ambitious target of USD 60 billion in exports by 2010, NASSCOM has said.

Presenting the findings of NASSCOM Strategic Review 2007 before the media here today, NASSCOM chairman B Ramalinga Raju said, ''IT industry's contribution to GDP has grown from 1.2 per cent to 5.4 per cent during past nine years.'' Similarly, software and services (IT-BPO) exports was likely to exceed USD 31 billion by the end of the current financial year, thus registering a growth of 32.6 per cent, he added. Mr Raju, who is also chairman of Satyam Computer Services, said the report will be formally released at its 15th annual summit ''NASSCOM 2007: India Leadership Forum'' which begins here on February 7.

NASSCOM president Kiran Karnik said the growth of IT industry was 15 per cent in 1999. ''However, this year alone, we have added USD 8 billion to our kitty which is larger than the size of the entire industry in the year 2002.'' Later, Mr Karnik outlined the challenges being faced by the IT industry in the country like lack of infrastructure and skilled manpower, and above all, information security. Also, he urged the government to be supportive towards the services industry which provides 75 per cent of employment in the economic sector.

UNI