Business Process Outsourcing Growth Rate Improves
The BPO industry in India is expected to show modest improvement this year after a relatively lackluster performance in 2009. Indian software services and BPO export revenue is estimated to have reached $50 billion in 2009-10. This represents a 5.5 growth rate and falls right in the middle of analyst expectations of 4 to 7% growth. “Export revenues for the Indian IT-BPO industry are expected to record a growth rate of 5.5 percent, to reach $49.7 billion in FY 09-10,” said Som Mittal, president of Nasscom. The BPO industry growth rate has fallen to single digits after remarkable growth of 32% just four years ago.
“It’s a historic moment for the Indian IT-BPO industry as it touches the $50 billion landmark. The growth was led by domestic market buoyed by increased government spending in IT. In addition, new areas such as engineering services and product development displayed phenomenal momentum clocking a combined revenue of over $10 billion.”
Nasscom issued a positive outlook for fiscal year 2010-2011. Nasscom is expecting Software and Services exports revenues to grow by 13-15%.
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