Nasscom pegs revenues of Indian software industry at $60 bn

February 3rd, 2009 NEW DELHI - The Indian software and services industry is expected to grow 16 percent this fiscal and log revenues of $60 billion despite the global slowdown, a top lobby for the industry said Wednesday. The National Association of Software and Service Companies (Nasscom) said together with the business process outsourcing (BPO) sector, the revenues are expected to top $71.7 billion with a growth of 17 percent.

July 29th, 2009 NEW DELHI - India's information technology and outsourcing industry is expected to grow over 7 percent this fiscal to log revenues of $64 billion with much faster expansion within the domestic market, a leading industry group said Wednesday. The National Association of Software and Service Companies (Nasscom) has forecast in its latest study that the software and outsourcing industry will log an export growth of 4-7 percent this fiscal to log $48-50 billion in revenues.

May 5th, 2009 NEW DELHI - India Inc believes the move by the Barack Obama administration to reduce tax breaks for US firms that ship jobs overseas will hit American companies more than impact on the Indian outsourcing industry. 'It's a more US-US issue rather than one aimed at stopping outsourcing, or off-shoring, or anything to do with India,' said Som Mittal, president of the National Association of Software and Service Companies (Nasscom), a representative boddy for the industry.

April 11th, 2009 WASHINGTON - India's information technology industry should start hiring in the US to help in its economic recovery as the US is always going to be its biggest market, the industry association's head has suggested. The restrictions on H1B visas in the US 'absolutely is a concern,' Pramod Bhasin, president and chief executive of outsourcing firm Genpact and the new chairman of the National Association of Software and Services Companies (Nasscom), said in an interview with Forbes Asia.

May 6th, 2009 BANGALORE - The Indian IT industry is set to witness a single-digit growth in software and services exports in 2009-10 because of global recession and lower technology spending in the US and Europe, a top industry body official said Wednesday. 'Software exports of Indian IT industry are projected to grow in single digit this fiscal due to economic slowdown and lower tech budgets in major markets like the US and Europe.

January 6th, 2009 BANGALORE - Nasscom, the apex body of the IT-BPO industry in India, expressed its shock Wednesday at the confession made by Satyam Computers' erstwhile chief B. Ramalinga Raju, who admitted to a Rs.40 billion fraud before quitting his post.

February 10th, 2009 NEW DELHI - IT industry body National Association of Software and Services Companies (Nasscom) Wednesday said it will form a corporate governance and ethics committee, headed by Infosys Technologies chairman N.R. Narayana Murthy.

January 14th, 2009 BANGALORE - The Rs.70 billion (Rs.7,000-crore/$1.43 billion) accounting fraud at Satyam Computer Services has forced the software sector's umbrella body Nasscom to defer its revised forecast on the IT industry's growth this fiscal (2008-09), a top industry representative said Thursday. 'Now that the numbers of Satyam are still in dispute, it will be unfair to come out with a revised forecast,' Nasscom chairman Ganesh Natarajan told IANS here.

January 6th, 2009 NEW DELHI - Shocked by the revelations of Satyam co-founder and chairman B. Ramalinga Raju that the software services firm had overstated profits and hidden liabilities in a Rs.40-billion scandal, leading industry lobbies called for stricter corporate governance norms.

February 10th, 2009 MUMBAI - The National Association of Software and Services Companies (Nasscom) Wednesday signed an agreement with Colombia's Federation of Software and Related Technologies (Fedesoft) to enhance software trade between the two countries. The memorandum of understanding (MoU) was signed at the India Leadership Summit, organised by Nasscom here, by its president Som Mittal and his Fedesoft counterpart Alberto Pradilla Bermudez.

January 15th, 2009 BANGALORE - The massive financial fraud by IT bellwether Satyam Computer Services has goaded the software industry's representative body into issuing a wake-up call to its members across India and abroad. In a directive to its 1,200-odd members, the executive council of National Association of Software and Services Companies (Nasscom) asked them, especially those listed and accountable to investors, to be transparent and disclose much more than they have.

September 3rd, 2009 CHANDIGARH - India is expected to clock double-digit growth in the software and IT enabled services (ITeS) exports next year as the US and other markets are recovering from the meltdown, a top official of the trade association NASSCOM said here Thursday. "We are expecting IT exports to grow in double digits as the software markets of the US and other countries are recovering well.

October 1st, 2009 WASHINGTON - The head of an Indian trade group fears proposals in US Congress to limit visas for foreign high-tech workers would be a "business killer" for India's burgeoning information technology industry and would not reduce US unemployment. Som Mittal, president of India's National Association of Software and Service Cos.

January 18th, 2009 NEW DELHI - Third generation (3G) mobile subscribers in India will reach 90 million by 2013, forming 12 percent of the overall wireless base, an industry report released Monday said. A new report by industry association Federation of Indian Chambers of Commerce and Industry (Ficci) and telecom consulting firm BDA, said, '3G service revenues will reach $15.8 billion by 2013, accounting for 46 percent of the total wireless service revenue'.

December 27th, 2008 BANGALORE - After nearly a decade of uninterrupted boom, the Indian information technology industry finds the road ahead bumpy as 2008 draws to a close, with the global meltdown and financial turmoil in the US and other rich countries catching the otherwise resilient sector off-guard. With no signs of early revival, even the top firms - TCS, Infosys and Wipro - are bracing for hard times in the year ahead.