Software, services exports grow 29% in FY08

New Delhi, Jul 9 (UNI) Despite the global economic turmoil and rupee appreciation, the country's software and services exports grew 29 per cent to register revenues of 40.4 billion dollars in FY08 against 31.4 billion dollars during the previous fiscal.

The Indian IT-BPO industry recorded an overall growth of 28 per cent, clocking revenues of 52 billion dollars in FY08 against 39.6 billion dollars in last fiscal, according to data released by premier trade body of the Indian IT-BPO industry National Association of Software and Service Companies (Nasscom) here today.

The overall revenue from software and services are projected to grow by 21-24 per cent to touch 50 billion dollars in current fiscal.

In the export segment, IT services exports have grown by 28 per cent to clock revenues of 23.1 billion dollars, while BPO exports are up by 30 per cent at 10.9 billion dollars in revenue.

Engineering services and products exports clocked 6.4 billion revenue, growing at 29 per cent in fiscal 2007-08.

''The Indian IT-BPO industry's resilience is reflected in its FY07-08 performance, with a 28.2 per cent overall growth rate and next year's projected growth between 21-24 per cent. Given that we are well on our way to achieve the target of 60 billion dollars in exports by FY09-10, the industry is now focusing on improving productivity, efficiency, as well as opening up new markets and services,'' Nasscom President Som Mittal told reporters here.

He added that the next decade offers opportunities and challenges which will require new business models and the industry dynamics will also see significant changes leading to a many new industry drivers and enablers.

Mr Mittal also disclosed that Nasscom is developing a long-term vision for 2020, to chart out the roadmap for all stakeholders and help them tap into this opportunity.

Tata Consultancy Services Ltd stood first on the 'Top 20 IT Software and Service Exporters FY07-08' and 'IT-BPO Employers in India FY07-08, while Genpact India Pvt Ltd topped the BPO ranking.

UNI MP SR HT1730