IT industry growth to remain static in FY16: Nasscom
MUMBAI: IT industry body Nasscom has forecast that the industry growth in the coming financial year would be about the same as in the current one. The association said on Tuesday that the growth would be 13% in 2014-15, and estimated that it would be between 12% and 14% in the coming year.
Nasscom said software exports in 2015-16 would grow to $110-$112 billion from about $98.5 billion in the 2015 fiscal ending March.The overall Indian IT-BPM revenues is expected to be in the range of $165-169 billion next year, compared to $146 billion this year.
The domestic IT-BPM sector (including hardware, e-commerce and software products) is expected to outpace the country's IT exports. It's expected to grow by 15%-17% to $55-$57 billion, compared to $48 billion in the current fiscal. The growth is expected to come from e-ecommerce and the government's push to boost technology adoption.
The industry, which employs 3.5 million people, made a net addition of 2.3 lakh people in this fiscal. The sector's contribution to the country's GDP has risen to 9.5% from 8% last year. It contributes 38% to the country's total services exports.