India’s export services likes of Offshore Software Outsourcing, call centers and back office operations totaled with 23.56 billion American dollars up to this financial year ending, the export services of offshore software outsourcing revenue grew by 33 percent from previous year; it was announced by the National Association of Software Companies. In February the preliminary estimation released by Nasscom had indicated the growth in export revenue for Offshore Outsourcing services was more than 30 %.
Offshore Software Outsourcing services industry
Nasscom is also upbeat about the revenue growth in the nation’s Offshore Software Outsourcing services industry for the next year. The nation’s Offshore Outsourcing services are expected to grow more than twenty five per cent in the year up to March 31, 2007, with total of revenue in between 29 to 31 billion American dollars. The domestic market for Offshore Software Outsourcing services is also projected to grow by twenty percent on account of electronic-governance projects, and investments in Information Technology by the retail sectors and health care.
Exports of software and related services have grown up by thirty three percent to 13 billion American dollars, this figure is out of the total exports done in the year up to march 31, while business revenue from call centers and business process outsourcing (BPO) have grown more than 35 percent to reach 6 billion US dollars. Other services including engineering and product exports earned $US4 billion, gres by 27 % from the last fiscal year.
The country has emerged as a major hub for offshore software outsourcing, back office operations and call centers, as overseas organizations have done outsourcing to Indian firms or set up their own service and development centers in the nation. Nasscom have release these figures that are including revenue of both Indian subsidiaries of multinational organization and those of Indian Offshore Outsourcing Organization.
Revenue from Offshore Software Outsourcing services delivered in the domestic market is also grown up by twenty five percent to reach 6 billion American dollars. The nation’s Offshore Outsourcing services sector employed round about 1.33 million people as end of March 31, out of which 930,000 were employed for the export service sector. So, we can say that the indirect employment from the software and services sector was three million. India’s revenue from exports of offshore software outsourcing, call centers and back-office processing will grow by twenty five percent every year to reach 60 billion US $ by year 2010; this report is according to research study done by Nasscom and consulting firm McKinsey and Co during previous year.