India's Software Outsourcing Sees Growth
Filed in archive Outsourcing News by Danny on February 26, 2005
India's software outsourcing revenues will reach 17.3 billion by the end of the current fiscal year on March 2005. This is a large increase from last year's revenues of $12.8 billion.
Additionally, the total number of people employed in the outsourcing industry reached a record at 1 million. Last year, the number of outsourcing workers were recorded at 770,000.
Kiran Karnik, president of the National Association of Software Service Companies, said, "Our exports gained momentum this year with more companies realizing the value of global sourcing."
At the start of the current fiscal year, India estimated software outsourcing revenues at $16 billion due to growing outsourcing backlash. "However, the anti-outsourcing wave has decreased, if not gone away fully. We managed to grow faster than our rivals like Ireland and Russia," Karnik said.
Currently, India's domestic market is valued at $4.9 billion with the software industry's total annual value at $22 billion.
Additionally, the total number of people employed in the outsourcing industry reached a record at 1 million. Last year, the number of outsourcing workers were recorded at 770,000.
Kiran Karnik, president of the National Association of Software Service Companies, said, "Our exports gained momentum this year with more companies realizing the value of global sourcing."
At the start of the current fiscal year, India estimated software outsourcing revenues at $16 billion due to growing outsourcing backlash. "However, the anti-outsourcing wave has decreased, if not gone away fully. We managed to grow faster than our rivals like Ireland and Russia," Karnik said.
Currently, India's domestic market is valued at $4.9 billion with the software industry's total annual value at $22 billion.
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