36) India's Software, Services Exports Forecast at US$40 Billion

Export revenue from software, services and business process outsourcing (BPO) will reach around US$40 billion for the fiscal year that ends next March 31, according to data released Monday by NASSCOM.

Actually, revenue of the exports of these factors went up 33% to $31.3 billion in the fiscal year to March 31,reported by the trading department. The growth is resulting from the promotion of Indian competitive edge, and other new services, according to Kiran Karnik, president of NASSCOM.

The overall IT industry of India rose by 30.7% to $39.6 billion in the year to March 31, with the domestic market up by 22% to $8.2 billion, NASSCOM reported. A great number of MNCs such as HP and IBM have signed outsourcing agreements with corporations in India.

Indian IT industry is strilking with the appreciation of Rupee against the US dollar. Moreover, high staff attrition and salary growth are also a problems obstacling ndia's IT industry. “But that will not decrease the speed of the development,”, said Karnik. On one part, NASSCOM will help build colleges and schools to make more Indian graduates employable by the IT industry, he noted. On another part, more investments will be made to the education sector.