The software and IT services industry in India is set to grow by 24%–27% to reach $45–$50 billion in FY 2007–08, says a study by Nasscom, the association of Indian IT companies. Last year, the industry registered a growth of 30.7% to post revenues of $39.6 billion — which is more than the projected 27% growth for FY 2006–07. (See Chart) 
These numbers include figures for IT services, BPO, engineering services, software product exports and the domestic market.
The software and services outsourcing sector in India reached $18 billion (35.5% growth rate), while the BPO sector touched $8.4 billion (33.5% growth rate) during 2006–07.
The number of employees engaged in the software and services outsourcing sector were 177,000, while in BPO were nearly138,000 during this period.
In terms of factors such as talent suitability, maturity and business environment, the country still leads in the race of most outsourcing destinations. But for its continuous growth, the country needs to be work toward the enhancement of the talent pool by focusing on soft-skill development, strengthening business infrastructure, operational excellence to be driven amongst industry players, framing domestic-market development, and emphasis on information security and quality.
The study also came out with a listing of India’s top 20 IT service providers. As expected, TCS, Infosys and Wipro occupied the first, second and third places respectively, while Satyam, HCL, Tech Mahindra and Patni secured the next four positions. The associations’ annual survey is based on the performance of the Indian software and services sector. The companies have been ranked on the basis of their India revenues. (See Box for the entire listing)
Top 20 Software and Services Exporters in FY 2006–07
| 1 |
Tata Consultancy Services |
| 2 |
Infosys Technologies |
| 3 |
Wipro Technologies |
| 4 |
Satyam Computer Services |
| 5 |
HCL Technologies |
| 6 |
Tech Mahindra |
| 7 |
Patni Computer Systems |
| 8 |
I-flex Solutions |
| 9 |
L&T InfoTech |
| 10 |
Polaris Software Lab |
| 11 |
Hexaware Technologies |
| 12 |
Flextronics Software Systems (Aricent) |
| 13 |
MphasiS BFL |
| 14 |
Mastek |
| 15 |
Siemens Information Systems |
| 16 |
NIIT Technologies |
| 17 |
Prithvi Information Solutions |
| 18 |
Genpact |
| 19 |
i-Gate Global Solutions |
| 20 |
Bislasoft |
Source: Nasscom
