New Delhi, July 02: The country's software sector is likely to miss the much-touted target of touching 60 billion dollar exports by FY10, due to unprecedented slowdown in key markets like the US and Europe, IT industry body Nasscom said.
"The aspiration of USD 60 billion by December 2010 is
likely to be delayed by at least three to four quarters due to
unprecedented slowdown in 2009 in key markets, particularly
the US and Europe," a Nasscom-McKinsey report said.
The technology and business services industry grew
substantially to USD 52 billion in 2008 including USD 12
billion dollar in the domestic segment.
Now with the financial meltdown taking its toll, the
software and services revenue outlook has been revised
downwards.
Nasscom had earlier scaled down the growth rate for
software exports to 16-17 per cent in FY09 as against
21-24 per cent announced earlier.
However, the report -- Perspective 2020 -- said the
future of the IT industry remains secure in the medium to long
term, even in the face of current macro-economic trends.
Bureau Report
First Published: Thursday, July 02, 2009, 20:39