Despite an uncertain global economic environment, the Indian IT-BPO industry is estimated to have grown 19 percent, with revenues of $76 billion in 2010,11, software industry body National Association of Software & Services Companies (Nasscom) said on Wednesday.
The industry has once again exhibited buoyancy and maturity, reflected through a strong customer demand, it said.
"Pent-up demand for IT-BPO services, return of discretionary spending, new business models that encouraged first time buyers, and re-invented value proposition for existing customers, were the key drives for the industry performance," Nasscom president Som Mittal said in a statement.
Exports continued to be the mainstay of the industry with revenues of $59 billion, growing at 18.7 percent, while the domestic market witnessed steady growth of 16 percent.
For FY12, the software and services growth is expected to grow at 16-18 percent with $68-70 billion in revenues. The domestic market is estimated to grow by 15-17 percent with revenues of Rs 90,000-92,000 crore.
"Domain expertise, process excellence, the ability to leverage technology to enhance operating efficiencies, greater scalability are becoming paramount in ensuring the long-term success of the global sourcing model and a major differentiating factor among countries. India is a front runner in imbibing these multipliers into its value proposition." Mittal said.
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