IT sector's revenue to touch USD 47.8 bn in 2006-07: NASSCOM

Bangalore, Jan 23 (UNI) Registering a ten fold increase in the past decade, the Indian IT industry would achieve a revenue of 47.8 billion US Dollars during the current fiscal, the National Association for Software and Services Companies(NASSCOM) said today.

Announcing the key findings of the Strategic Review 2007, NASSCOM said the IT industry's contribution to the GDP was estimated to be 5.4 per cent this fiscal as againt 1.2 per cent in 1997-98.

The report would be formally released at NASSCOM's 15th annual summit 'NASSCOM 2007: India Leadership Forum', to be held in Mumbai from February seven.

Commenting on the key findings, NASSCOM Chairman and Satyam Computer Services Founder and Chairman B Ramalinga Raju said ''the last decade is testimony to the growing impact that the Indian IT industry is having on the global and local economies. The industry is perfectly poised to tap new opportunities in the offshoring and domestic segments for greater wealth and IP creation for the country.'' NASSCOM President Kiran Karnik said ''Indian IT industry's consistent growth in both exports and domestic segments and its ongoing expansion into new potentially high growth opportunities reaffirms the continued confidence and global competitiveness of the Indian IT sector. We are confident that the industry will achieve its ambitious target of 60 billion Dollars in exports in 2010.'' MORE UNI