Nasscom, the premier trade body of the Indian IT-BPO industry, has announced the findings of its annual survey on the performance of the Indian software and services sector (excluding hardware) for FY07-08 and outlook for FY08-09.

According to the annual Nasscom survey, the Indian IT-BPO industry (including domestic market) recorded an overall growth of 28 percent (currency adjusted), clocking revenues of $52 billion in FY07-08 up from $39.6 billion in FY06-07. The software and services exports segment grew by 29 percent (in $) to register revenues of $40.4 billion in FY07-08, up from $31.4 billion in FY06-07. The domestic segment grew by 26 percent (in INR) to register revenues of $11.6 billion in FY07-08.

Within the export segment, IT services exports have grown by 28 percent (in $) to clock revenues of $23.1 billion; while BPO exports are up by 30 percent (in $) registering revenues of $10.9 billion. Engineering services and products exports clocked revenues of $6.4 billion, growing at 29 percent (in $) in FY07 -08.

The survey also projects that the overall software and services revenues will grow by about 21-24 percent (currency adjusted) to touch approximately $50 billion in FY08-09.

Som Mittal, president, Nasscom said "The Indian IT-BPO industry's resilience is reflected in its FY07-08 performance with a 28.2 percent overall growth rate and next year's projected growth between 21-24 percent. Given that we are well on our way to achieve the target of $60 billion in exports by FY09-10, the industry is now focussing on improving productivity, efficiency, as well as entering new markets and service segments".

He further added "The next decade offers opportunities and challenges, which will require new business models and the industry dynamics will also see significant changes leading to many new industry drivers and enablers. We will need to prepare ourselves for these. Nasscom is developing a long-term vision for 2020, to chart out the roadmap for all stakeholders and help them tap into emerging opportunities".