Fast Growth for India’s Outsourcing Industry, Despite Weak Global Economy – NYTimes.com

India’s internet technology industry continues to expand, despite weak economies in key markets in United States and Europe, thanks to domestic growth and a push into new regions like the Middle East and Africa.

Revenues for India’s information technology and outsourcing industries are expected to cross $100 billion this financial year, a 14.8 percent increase from last year and double 2007, the National Association of Software and Services Companies (NASSCOM), India’s technology industry association said in a recent report. The group, which has over 1,200 corporate members, predicts that revenues will reach $225 billion by 2020.

“There has been consistent growth in the domestic IT market,” said Rajendra Pawar, chairman of NASSCOM, explaining the rise in a press conference on February 15, 2012. Total revenues in the sector will reach $101 billion in the year that ends March 31, 2012, the report said. Exports, or work done for clients outside India, will make up $69 billion of that figure. Growth in the domestic market is expected to be 16.5 percent, to $32 billion.

via Fast Growth for India’s Outsourcing Industry, Despite Weak Global Economy – NYTimes.com.