Bangalore: India’s computer services exports may gain 28% this fiscal year as companies including International Business Machines Corp. manage networks and call centres for clients such as Citigroup Inc. from the nation.
Exports will rise to $40.8 billion (Rs161,976 crore) for the year ending 31 March, the National Association of Software and Service Companies (Nasscom) said in an emailed statement on Monday. The home market will likely generate $23.2 billion in revenue, boosting total growth by 33% to $64 billion, the industry’s lobbying group forecast. The South Asian nation may exceed its target of $60 billion in computer services exports for the 12 months ending March 2010, Nasscom president Som Mittal said. Tata Consultancy Services Ltd and Infosys Technologies Ltd, India’s largest providers of software services, compete with IBM to write software and maintain networks from India for overseas clients.
The industry accounts for 5.5% of India’s gross domestic product for the current year, up from 1.2% for fiscal 1998, Nasscom said.
Tata Consultancy, based in Mumbai, closed at Rs903.20, gaining 0.36% on the Bombay Stock Exchange on Monday. Infosys closed at Rs1,558.75, up 0.48%.