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By | John Leyden 2nd June 2005 14:04

Indian outsourcing revenues skyrocket

Up 30% to $22.5bn

Exports of software and IT services from India will rise 30 to 32 per cent in the year to March 2006, according to predictions from India's leading association of technology companies. The National Association of Software and Services Companies (Nasscom) said that exports will hit $22.5bn in 2006, up from $17.2bn in the FY ending March 2005 and $16.7bn in 2003-04. Domestic market revenues grow by 24 per cent in FY 04-05 to reach $4.8bn.

One million people work in India's growing IT market, according to Nasscom, which is targeting export growth of $50bn in FY 09. "The industry is in a strong position to leverage the global software opportunity and establish India as the premier IT destination in the world. To sustain our competitive advantage, the industry must engage closely with academia to create the right talent pool, collaborate with the hardware industry in microelectronics and embedded software, maximize employment opportunities and elevate service excellence through R&D and quality-benchmarked delivery," said S. Ramadorai, chairman of NASSCOM and managing director of Tata Consultancy Services, the Indian software services giant. ®

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