The year 2011-12 characterizes a landmark year as aggregate revenue for the Indian IT-BPO sector is estimated to cross USD 101 billion. Continuing as the bastion for the sector, exports accounted for ~USD 69 billion, growing by 16.3 percent over the last fiscal year.
Despite challenges in the global market conditions, India sustained its growth trajectory. Some of the other pivotal factors that have been contributing to this growth include new business models, organization efficiencies, services around disruptive technologies such as cloud, mobility, analytics, social media, and flexible product portfolios and verticalized solutions. For FY2013, the export revenues are expected to grow by 11-14 per cent while the domestic revenues will grow by 13-16 percent.
The IT-BPO sector continues to be one of the largest employers in the country directly employing ~2.8 million professionals, with over 230,000 jobs being added in FY2012. Speaking at the press meet, Mr. Rajendra Pawar, Chairman, NASSCOM, said, “The industry performance this year demonstrated the sector’s ability to innovate and deliver differently in order to maintain the growth trajectory. The Indian IT companies are investing in building platforms and productised solutions to drive future growth opportunities. More importantly, the industry is expanding into newer geographies and verticals where the growth is 1.4 time that in the mature markets. Emergence of a vibrant start-up product ecosystem creating solutions for India and the world also enhanced the product opportunity for India.”
Speaking on the occasion, Mr. Som Mittal, President, NASSCOM, said, “Indian IT-BPO firms have matured from being service providers to strategic partners to their customers – highlighting their importance in enabling growth of customer businesses. Verticalisation, operational excellence and an expanding global delivery model were internal priorities for the industry in this year. The domestic market for the last couple of years has been growing faster than the exports sector and would continue to be a key thrust area for the industry”.