Nasscom forecasts 12-14 per cent growth in IT industry

Economic uncertainties notwithstanding, Nasscom has forecast a 12-14 per cent growth in the Indian IT industry during 2013-14 against 10.2 per cent in dollar terms the previous year.

Som Mittal, president, National Association of Software and Services Companies (Nasscom), said he expected the domestic industry to grow at 15-16 per cent and exports to grow at 12-14 per cent in dollar terms.

He told reporters here Wednesday that there are signs of 2013-14 proving better than 2012-13. In the year just ended, IT exports were estimated at $76 billion, while domestic sales were $32 billion.

Of the $32 billion, 12 per cent were hardware and the remaining were software and services. The total IT revenues during the year were $108 billion.

"This year we probably added $13 to $15 billion new business in both domestic and exports," Mittal said.

During 2012-13, the industry grew by 10.2 per cent in dollar terms, 10.9 per cent at constant currency and 21-22 per cent in rupee terms.
Mittal said the huge transformation across the world with technology at the centre and social media, mobility, analytics and cloud would drive the growth this year.

"In addition, we are expanding in a new territory. While the US and the UK will continue to grow for us, Asean countries, Africa and Latin America are also big markets which will grow," he said.

Stating that the Indian IT industry has a large base, he said that when he joined Nasscom in 2008, it had $50 billion mark, but has now touched $100 billion.

Mittal said the industry added 180,000 net jobs in 2012 and is expected to add 130,000 to 150,000 jobs this year.

 

 

Source: CIOL