[July,9] India Expects Software and Services Revenue Growth to Fall
Quote:
India's National Association of Software and Service Companies (Nasscom) forecasts revenue from the domestic and export markets for software and services in India will grow more slowly this year, at between 21 and 24 percent.
The country's software and services revenue grew by 28 percent in the Indian fiscal year to March 31, to US$52 billion, the association said Wednesday.
There are however some concerns whether this growth can be sustained this year, particularly on account of fears of a recession in the U.S. and the impact of rising oil prices on both the domestic and export markets.
The downturn in the global economy is in the short term slowing down offshore outsourcing, said Siddharth Pai, a partner at outsourcing consultancy Technology Partners International (TPI) of Houston, Texas. Although the Indian domestic market for software and services is robust, this market is still very small, Pai added.
The data for the fiscal year ended March 31 includes revenue from both domestic and export markets. Revenue from exports grew 29 percent to $40.4 billion during this period, while revenue from the domestic market grew by 26 percent to $11.6 billion.
Source :
PC World - India Expects Software and Services Revenue Growth to Fall
