IT
industry body Nasscom has forecast that the industry growth in the
coming financial year would be about the same as in the current one. The
association said on Tuesday that the growth would be 13% in 201415, and
estimated that it would be between 12% and 14% in the coming year.
Nasscom communicated the estimate to the media after a strategic review here.R Chandrashekhar, president of Nasscom, said there were concerns with regard to slowdown in Europe, Brazil and China. "A lot of hope was pinned on these economies. So the big question is, where is the real growth taking place? If there is slowing down in some parts and degrowth in some countries of Europe, then there is less money available for the IT sector," he said.
Nasscom said software exports in 2015-16 would grow to $110-$112 billion from about $98.5 billion in the 2015 fiscal ending March.The overall Indian IT-BPM revenues is expected to be in the range of $165-169 billion next year, compared to $146 billion this year.
The domestic IT-BPM sector (including hardware, e-commerce and software products) is expected to outpace the country's IT exports. It's expected to grow by 15%-17% to $55-$57 billion, compared to $48 billion in the current fiscal. The growth is expected to come from e-ecommerce and the government's push to boost technology adoption.
In the current year, engineering design and product development was the fastest growing segment, driven by value-added solutions from existing players and newer global in-house centres being established in India.
Nasscom chairman R Chandrasekaran said the sector had posted phenomenal growth this year despite macro-economic challenges."We had articulated a vision to touch $300 billion by 2020; we are half way there. We are confident of meeting that billion target," he said.
The industry, which employs 3.5 million people, made a net addition of 2.3 lakh people in this fiscal. The sector's contribution to the country's GDP has risen to 9.5% from 8% last year. It contributes 38% to the country's total services exports.
Nasscom communicated the estimate to the media after a strategic review here.R Chandrashekhar, president of Nasscom, said there were concerns with regard to slowdown in Europe, Brazil and China. "A lot of hope was pinned on these economies. So the big question is, where is the real growth taking place? If there is slowing down in some parts and degrowth in some countries of Europe, then there is less money available for the IT sector," he said.
Nasscom said software exports in 2015-16 would grow to $110-$112 billion from about $98.5 billion in the 2015 fiscal ending March.The overall Indian IT-BPM revenues is expected to be in the range of $165-169 billion next year, compared to $146 billion this year.
The domestic IT-BPM sector (including hardware, e-commerce and software products) is expected to outpace the country's IT exports. It's expected to grow by 15%-17% to $55-$57 billion, compared to $48 billion in the current fiscal. The growth is expected to come from e-ecommerce and the government's push to boost technology adoption.
In the current year, engineering design and product development was the fastest growing segment, driven by value-added solutions from existing players and newer global in-house centres being established in India.
Nasscom chairman R Chandrasekaran said the sector had posted phenomenal growth this year despite macro-economic challenges."We had articulated a vision to touch $300 billion by 2020; we are half way there. We are confident of meeting that billion target," he said.
The industry, which employs 3.5 million people, made a net addition of 2.3 lakh people in this fiscal. The sector's contribution to the country's GDP has risen to 9.5% from 8% last year. It contributes 38% to the country's total services exports.
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