New Delhi: The Indian IT industry posted an increase of 19 percent in its total revenue at Rs.4,38,296 crore (USD 96.1 billion) during financial year 2010-11, said a report by a research firm on Saturday.

'The growth is a significant bounce-back for the industry which recorded just 8 percent growth in 2009-10, in the wake of the global recession in 2009 and 2010, which made both global and Indian companies cut back on their IT spending,' said the research report.

According to the report, exports accounted for 66.4 percent of the industry while the domestic market accounted for the remaining 33.6 percent in the period under review.

The domestic market grew 23 percent posting revenues of Rs.1,47,152 crore while the exports clocked Rs.2,91,144 crore, growing at 17 percent.

While IT services exports grew at 21 percent, engineering services exports grew 22 percent, BPO exports grew 7 percent. The total services exports from India in the previous financial year stood at USD 64 billion, including IT software/services and BPO.

Hewlett Packard India was the largest IT player in the domestic market while Tata Consultancy Services was the largest exporter from India.

Within the Indian domestic market, computer hardware sales jumped 28 percent. Software and services grew at 19 percent each, clearly indicating that enterprises have resumed spending on new infrastructure creation and hardware replacement.

The research also revealed that most of the consumer technology segments such as laptops, smart phones, and storage devices (MP3 players, digital cameras, and consumer storage media) have recorded impressive growth.

Smart phones (revenues of Rs.8,796 crore) grew the maximum across all categories at 97 percent in revenue terms. Computer hardware sales of Rs.29,151 crore included servers (Rs.2,709 crore), desktop computers (Rs.13,341crore) and laptop computers (Rs.13,301 crore).

TCS, Cognizant and Wipro were the three top IT companies with Rs.29,801 crore, Rs.25,477 crore and Rs.21,393 crore revenues, respectively.