The industry is looking at 12.3 percent growth in the 2015-16 fiscal, ending on March 31. Last year, the IT services and software industry body had forecast a growth of 12-14 percent in exports.

The rupee recently fell to 29-month low against the dollar. Currency movements impact the industry, which earns around 80 percent of the revenue from the US and Europe.

Despite the impact, strong uptake of digital technologies like cloud, mobility, IoT and Big Data coupled with a rapidly growing start-up ecosystem are expected to help exports grow double-digit to reach USD 107.8 billion in 2015-16.

The overall industry (along with domestic consumption and hardware) is expected to reach an estimated USD 143 billion in 2015-16. The global IT-BPO spending rose 0.4 percent in 2015.

The domestic IT-BPO revenue is expected to post 10 percent growth to Rs 1.41 lakh crore in the ongoing fiscal and further grow by 11-13 percent (in Indian rupee terms) to achieve revenue of Rs 1.56-1.59 lakh crore in 2016-17.

The industry added 2 lakh employees in 2015-16 reaching a total employee base of 3.7 million.
The Indian IT-BPO industry has received over USD 7 billion in FDI, including USD 5 billion in start-up investments, in current fiscal, Nasscom said.

Latest News  from Business News Desk