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

Economic Pulse

REUTERS SHOWCASE

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman.  Full Article 

Gold Import

Gold Import

RBI will not change gold import rules - sources  Full Article 

Idea Results

Idea Results

Idea Cellular Q2 profit up 69 percent  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

IBM Earnings

IBM Earnings

IBM ditches 2015 operating EPS target, shares slump 7 pct  Full Article 

Reuters India Mobile

Reuters India Mobile

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