MUMBAI Feb 12 Exports from India's IT
outsourcing sector are expected to grow between 12 and 14
percent in the fiscal year starting April to as much as $87
billion, according to the National Association of Software and
Services Companies (Nasscom), the industry lobby.
Exports from the industry, which counts the United States
and Europe as its biggest markets, were estimated to have grown
10.2 percent to $75.8 billion in the current fiscal year,
Nasscom said on Tuesday.
The global economic uncertainty caused corporations in the
United States and Europe to cut back on IT spending, leading
Nasscom to bring down its forecast for the current fiscal year.
Exports would only grow to touch the lower end of an earlier
forecast of 11-14 percent, Nasscom had said in November.
Strong December-quarter results from second-ranked Infosys
and its peers, including top-ranked Tata Consultancy
Services, prompted investors to speculate that the
coming year will see an increase in IT spending, while overall
budgets are expected to remain largely unchanged.