Software and services exports surged 29 percent during 2007-08 to garner $40.4 billion revenue — overcoming the strong headwinds such as an impending slowdown and a severe financial sector crisis in the US, as well as currency fluctuation — to meet the targets set at the beginning of FY08.
The domestic market continued to gain momentum, growing 26 percent to register revenue of $11.6 billion in FY08. This took the overall IT industry revenue — exports and domestic combined — to $52 billion, a growth of over 28 percent compared to the previous year; and the overall IT sector direct headcount touched 2 million professionals.
India’s software and services revenue is poised to grow between 21 and 24 percent during 2008-09 to touch $62-64 billion.
Saturday, July 12, 2008
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