by: Karen Cayamanda
Tuesday, December 28, 2010 | Outsourcing News |
By the end of the current fiscal year, India’s IT-BPO industry will hit the $70 billion mark as demand for software technology products picked up. This is according to National Association of Software and Service Companies (Nasscom), the country’s IT industry and business process outsourcing (BPO) sector trade body.
From $12.8 billion in 2009, Nasscom expects a 14 percent compounded annual growth rate for the domestic IT-BPO services sector over the next two years. IT industry revenues rose by 5.5 percent as demand in US markets increased this year. The country’s top software services firm Tata Consultancy Services (TCS) as well as its competitor Infosys Technologies Ltd. reported good revenues in 2010.
Moreover, expansion of workforce is expected during this fiscal year with TCS planning to hire more than 50,000 people. Infosys, on the other hand, is expected to employ about 20,000 workers early next year.
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