IT sector exports seen picking up pace in FY15 - Nasscom

MUMBAI Tue Feb 11, 2014 1:56pm IST

Workers are pictured beneath clocks displaying time zones in various parts of the world at an outsourcing centre in Bangalore February 29, 2012. REUTERS/Vivek Prakash/Files

Workers are pictured beneath clocks displaying time zones in various parts of the world at an outsourcing centre in Bangalore February 29, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Exports by India's IT outsourcing sector are expected to rise 13-15 percent in the fiscal year starting April, an industry lobby group said on Tuesday, as an improving global economy encourages banks and companies to boost spending on technology.

IT services exports in 2014-15 are forecast to rise to as much $99 billion, according to the National Association of Software and Services Companies (Nasscom).

The increase in growth rate compares with an estimated 13 percent rise in fiscal 2014, the lobby added.

"Clearly compared to what we saw in the industry 12 months ago to now, we are seeing a far more positive momentum in our major markets," Nasscom Chairman Krishnakumar Natarajan, also chief executive of IT firm Mindtree Ltd (MINT.NS), told reporters.

Last month, the International Monetary Fund raised its global economic growth forecast for the first time in nearly two years.

India's biggest IT services outsourcing firms, Infosys (INFY.NS) and Tata Consultancy Services (TCS.NS), have forecast stronger growth for IT spending in the next fiscal year by their main customers in Europe and the United States.

(Writing by Aradhana Aravindan; Editing by Miral Fahmy)

FILED UNDER:
  • Most Popular
  • Most Shared

Insight

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage