Innovations in the Software Industry: Software outsourcing jumps target

Software outsourcing jumps target

Wednesday, June 15, 2005

India's export revenues from software outsourcing have exceeded targets and will reach $17.3 billion in the fiscal year ending March 2005. For the first time, the total number of people employed in India's outsourcing industry has also touched 1 million hands, said the National Association of Software and Service Companies.
The exports gained momentum this year with more companies realizing the value of global sourcing, In the year to March 2004, India's software exports stood at $12.8 billion and the industry employed 770,000 people.
India's domestic market for the current fiscal year has been valued at $$4.9 billion, up from $$3.9 billion a year earlier.
Thus, the total annual value of India's software industry, including exports and local sales, is nearly $22.2 billion.