ITES Sector
According to National Association of Software and Service Companies (NASSCOM)—the ITES sector revenue as a proportion of the country's gross domestic product (GDP) has grown from 1.2 per cent in 1998-99 to an estimated 6.4 per cent in 2010-11. Further, NASSCOM predicts that the Indian IT-BPO revenues may touch US$ 225 billion by 2020.
ITES, which started with basic data entry tasks over a decade ago, is witnessing an expansion in its scope of services. It now offers services such as knowledge process outsourcing (KPO), legal process outsourcing (LPO), games process outsourcing (GPO) and design outsourcing, among others.
The Indian information technology (IT) industry has played a key role in putting India on the global map and is now envisioned to become a US$ 225 billion industry by 2020.
Over the past decade, the Indian IT-BPO sector has become the country’s premier growth engine, crossing significant milestones in terms of revenue growth, employment generation and value creation, in addition to becoming the global brand ambassador for India.
According to a research report published by National Association of Software and Service Companies (NASSCOM), ‘IT-BPO Sector in India: Strategic Review 2011,’ the sector is estimated to aggregate revenues of US$ 88.1 billion in FY2011, with the IT software and services sector (excluding hardware) accounting for US$ 76.1 billion of revenues.
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