Indian software industry to grow 16% in current fiscal

Special Report:Global Financial Crisis

NEW DELHI, Feb. 4 (Chinese media) -- The Indian software and services industry is expected to grow 16 percent this fiscal and get revenues of 60 billion U.S. dollars despite the global slowdown, the Indian software industry association said Wednesday.

The National Association of Software and Service Companies (Nasscom) said together with the business process outsourcing (BPO) sector, the revenues are expected to top 71.7 billion U.S. dollars.

Of this, the export of software and services will account for 47 billion U.S. dollars, growing by 16-17 percent. The association also said that the domestic BPO industry would log a growth of as much as 40 percent this fiscal.

"The current financial year has been challenging for economies across the globe. But the Indian IT-BPO industry has exhibited a balanced growth," said Ganesh Natarajan, chairman of Nasscom.

"We have seen Europe, Asia Pacific and rest of the world grow more than U.S.," Natarajan said, according to the Indo-Asian News Service.