By the country’s National Association of Software and Service Companies. India’s revenues from the exports of Information Technology and Business Process Outsourcing is likely to grow 5.5 percent to US$49.7 billion in the Indian fiscal year to March 31,2010 as per the estimates released. Including the the exports by the outsourcers as well as by Indian services and software development subsidiaries of multinational companies, the revenue figure including the Microsoft, Dell and the Oracle. The NASSCOM has predicted higher revenue growth in the range of 13 to 15 percent from the Information Technology and Business Process Outsourcing services to the customers in the US,UK and other markets. Its business was business was however hit in the fiscal year to March 31,2010 due to the recession in some of the economies.
The 2009 figure is still an estimates as the results of the Satyam Computer Services, a large Indian outsourcer are still bring re-stated, after a financial scandal at the company. The growth rate of 5.5 percent estimated by NASSCOM for the year ending March 31, 2010 is far lower than the 16 percent estimated by them for the previous year. The 2009 figures is still an estimate as the results of Satyam Computer Services. The top Indian outsourcing companies like Tata Consultancy Services, Infosys Technologies and Wipro. They were seeing an improvement in the demand for their services from customers in the key markets including the US.
The company had cut staff by 630 in its Information Technology services business in the previous quarter. The Indian outsourcing companies have also started hiring in a large numbers again. Wipro’s Information Technology services business added 4,855 staff in the quarter ended December 31. The direct employment by the country’s Information Technology industry is expected to be 2.3 million by March 31, 2010 with over 90,000 jobs added during the current fiscal year. Indian companies are however not likely to achieve soon thhe revenue growth level they had before the recession. A number of a new large large Information Technology services deals are expected to be signed by the second quarter.
Under the category of necessary expenditure a lot of the expenditure by customers still falls. A number of a new large Information Technology services deals are expected to be signed by the second quarter. The Indian companies are however not likely to achieve soon the revenue growth levels they had before the recession. With the discretionary expenditure on Information Technology services likely to start by the middle of the year. A lot of the expenditure by the customers still falls under the category of necessary. Besides of a pick up in exports revenue for the year ended March 31,2010. The Nasscom is also expecting a growth in the domestic services business. The domestic revenue is expected to grow by 12 percent to Indian rupees 662 billion.
REFERENCE:
http://www.globaloutsourcing-industry.com/news/indias-outsourcing-exports-at-us50-billion/
