Indian IT-BPO heads for slowdown
12 Apr 2008, 1009 hrs IST,TNN
NEW DELHI: The Indian IT-BPO industry
is headed for a slowdown in growth this year but is on track to achieve its
target of exports worth $60-billion by 2010, industry association Nasscom said.
“There will be some slowdown but growth will happen. The $60
billion target will be maintained and achieved,” said Nasscom president
Som Mittal. Mittal said that the Indian IT-BPO industry needs to grow at 22-23
per cent in future to achieve the $60 billion export target, a rate which could
be achieved and exceeded easily.
“There will be 4-6 months of
sluggish growth but we don’t think there is any long, deep recession
setting in,” said the association’s new chairman Ganesh Natarajan.
The Zensar Technologies CEO added that in some cases, slowdown has already led
to more outsourcing.
Nasscom vice-chairman and Genpact CEO Pramod
Bhasin said there was still lack of clarity over the impact of the slowdown in
the US. “The impact will be clearer in the next three to six
months,” he said.
Nasscom estimates published in its Strategic
Review 2008 pegged Indian IT-BPO industry’s revenue growth in fiscal
2007-08 at 33 per cent, exports at over $40-billion and domestic revenue at over
$23 billion. The association would release the final figures for FY’08 in
June.
With elections in the US, the issue of job losses due to
outsourcing has raised its head again. Natarajan said Nasscom is trying to deal
with the issue. “We are getting our point of view across by presenting
data to prove our case,” he said.
The association laid out its
six-point agenda for fiscal 2008-09 on Friday. The agenda includes focus on
innovation, building communities for sharing best practices, collaboration,
green IT, societal development and education & skill building. Nasscom also
announced the appointment of Raju Bhatnagar as vice-president.
He
will focus on the BPO sector. The association said it will also put in place
initiatives to address infrastructure and security issues.
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