IT-BPM likely to achieve double digit growth: NASSCOM
National Association of Software and Services Companies (NASSCOM) today indicated that Indian IT-BPM sector is likely to at least achieve a double digit growth amidst a volatile and challenging global economic environment.
NASSCOM in its outlook analysis of the sector based on industry performance for the first half year and global technology spending trends said the industry is likely to witness a 76 to 77 Bn USD exports during the current fiscal with the growth happening in remote infrastructure management, BPO and Testing segments.
NASSCOM said emerging verticals included retails, healthcare and utilities with the growth from mature market expected to double.
This estimate was based on NASSCOM's analysis of Indian listed companies, multinationals and GICs; and industry sectors- IT services, BPO, ER and D and Products NASSCOm said in a release here TCS CEO and MD N Chandrasekaran said the industry performance for the past half-year has demonstrated the sector's ability to innovate and deliver in enabling growth of customer businesses in challenging times. 'Changing business models, solutions around disruptive technologies and verticalized structures are enabling the industry to emerge as a strategic partner for their customers' he added.
NASSCOM President Som Mittal, in his comments, said the IT-BPM industry continues to be a growth sector for India demonstrating double digit growth. 'The industry continues to reinvent itself by expanding the market' he said adding building new capabilities and a globalised model.
Competitiveness, efficiency, service excellence and innovation are the key building blocks for the industry.
The domestic market in the country industry is also increasing technology adoption within the government sector and the SMB market.