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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

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