Indian Outsourcing Industry to grow to $55 Billion
Indian IT Industry to Grow to $55Bn by 2008 – IDC
According to a study titled ‘Directions 2005’ by IDC, the Indian IT industry will grow to USD 55 billion by the end of calendar year 2008, from USD 19.5 billion in 2003. The report adds that the Indian IT industry will witness a CAGR of 23.1 percent between 2003 and 2008, with exports growing 25.3 percent.
Kapil Dev Singh, Country Manager, IDC (India), said that the higher growth in exports between 2003 and 2008 will be contributed primarily by the BPO or ITeS, which is expected to grow at a CAGR of 36 percent.
The report further added that India's offshore BPO sector will continue to grow very strongly despite concerns like backlash and emergence of other destinations like the Philippines, China, Malaysia, Russia, Hungary, Brazil and Mexico. China, India and South Korea account for 80 percent of the incremental regional market revenue in 2004.
Reported by rediff.com / Hindustan Times
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posted by A-1 Technology @ 3:24 PM
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