Exports growth may exceed 35 percent as opposed to the 30-32 percent projected earlier in the year, which was considered stiff then given the outsourcing backlash concerns and the impending U.S. elections. "With most of the numbers for 2004-2005 in place, we believe that the software exports would possibly go past the 35-percent mark," the Nasscom president, Kiran Karnik said. He reiterated that the targeted $50 billion in software exports was on track.
In 2003-04, the Indian software and services industry registered revenues of about $15.9 billion, including domestic revenues of $3.4 billion. Earlier exports were expected to grow to $16.3 billion from $12.8 billion. The IT-enabled service (ITeS) segment is growing rapidly and trends indicate the companies are scaling up the value chain. Given the business trends, Nasscom has projected that the Indian software and services revenues would grow to about $20.5 billion in 2004-2005, including domestic market revenues of $4.2 billion.
