India's IT growth

The domestic(India) market seems to be coming to the aid of the IT-BPO industry, because it is projected to grow 15-18%, even as the export market is likely to grow a mere 4-7%. Damn sure that the export market is about thrice as much as the domestic market.
The National Association of Software and Services Companies (Nasscom) on Wednesday(July 29) said that the industry’s exports are expected to grow to between $48 billion and $50 billion, compared with $46.3 billion last year. Last year(2008-2009), the industry’s export revenues grew 16.3 %, says Nasscom, but calculations show only a 14.6% growth, from $40.4 billion in the previous year.
The root of the discrepancy lies in Satyam's Computer accounts, which are yet to be restated.Disclosing Nasscom’s projections at the body’s annual meet here, the Chairman, Mr Pramod Bhasin, stressed that even a 4-7 per cent growth is good, given the economic environment. He noted that core markets such as North America and verticals such as the banking and financial services industry “have started to stabilise”.
The domestic IT-BPO market is projected to grow at a higher rate — between 15 and 18% — to reach around Rs 67,000 crore, compared with Rs 57,000 cr last year. In dollar terms, domestic revenues were $12.5 billion in FY-09, Nasscom said. Fiscal 2009 figures grew 21 per cent over Rs 47,000 crore in fiscal 2008. The domestic market witnessed enhanced focus in the year ended March 2009 with “large transformational deals in telecom and e-governance, with contract value of outsourcing deals growing by 32%, Mr Bhasin told newspersons after releasing the Nasscom outlook for the industry in 2009-10.