Double digit growth in IT exports expected next fiscal: Nasscom
Chandigarh: Signs of recovery in the US and
the European economies makes IT and software industry body
National Association of Software and Service Companies
(NASSCOM) hopeful of seeing double-digit growth in the
country's IT exports sector.
"We feel that IT software and service exports will attain
growth in double digit in next financial year on the back of
revival of economies of US and Europe which were hit by
meltdown," NASSCOM Chairman Pramod Bhasin told reporters on
the sidelines of an event.
Nasscom had earlier projected that the country's software
and IT exports would grow merely by 4-7 per cent to USD 48-50
billion in 2009-10 in view of sluggish demand for outsourcing
in the US and Europe, which are the largest markets for the
Indian IT vendors.
In 2008-09, the industry grew by over 16 per cent at USD
Bhasin further said the country had the potential to
achieve IT exports of USD 225-300 billion while the total
direct employment in IT sector expected to reach from 4
million to 14 million in the next five years.
However, he found the lack of suitable human skills for
the IT sector a major hindrance in its growth.
"Only a small faction of graduates are employable in the
industry as our curriculum is outdated," he said while
stressing on addressing this issue expeditiously.