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

Moody's on Inflation

Moody's on Inflation

Persistent inflation hurting India's sovereign ratings - Moody's  Full Article 

Carmichael Project

Carmichael Project

Adani buys Australia coal mine royalty rights from Linc for $145 million  Full Article 

GDP Preview

GDP Preview

Economy likely grew faster in June quarter: Reuters poll.  Full Article 

India-Japan Meet

India-Japan Meet

Modi eyes breakthrough nuclear pact on Japan trip   Full Article 

Monetary Policy

Monetary Policy

BofA says RBI may cut rates by 75-100 bps starting early 2015  Full Article 

Road to IPO

Road to IPO

Mega-IPO to rekindle the 'bromance' behind Alibaba's rise  Full Article 

Reuters India Mobile

Reuters India Mobile

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