Feb

11

India’s IT-BPO market has achieved impressive growth rates over the past decade and is poised to achieve greater revenues in the coming decade.

Software industry chamber  NASSCOM reports current  export revenues of Indian IT and business process outsourcing (BPO) companies are expected to rise by 5.5% to cross USD50 billion in the ongoing 2009-2010 fiscal and could accelerate by 13 to 15 percent (USD56-USD57 billion) in 2010-2011.

If this 13 to 15 percent rate continues every year, India’s IT-BPO market  could reach USD 285 billion in 2020.

At present, major IT/BPO firms in India are gearing up to match this growth further through performance progress.

Genpact, India’s largest back-office support provider, is confident of its strong deal pipeline that could achieve 14 to 17  percent revenue growth in 2010 with new clients and recent acquisition of US-based Symphony Marketing Solutions (SMS). The company has set the operating margin guidance for the current year at 17 to 18 percent.

The company began 2010  by extending long-term contract with General Electronics and acquiring SMS. Genpact also acquired US-based largest drugstore Walgreen’s accounting back-office in Danville as part of a 10-year outsourcing contract.

Another major IT/BPO player in India– Wipro, a global software firm, has applied for 50 acres near the Bangalore International Airport for setting up an IT park.  The proposed park will be the third location of the IT giant in India’s tech hub.

Wipro’s main software development center is located in the Electronics City, about 35 km from Bangalore.  Wipro corporate headquarters is located on Sarjapur road in the southern suburb.

And finally it also seems that Mahindra Satyam has bright prospects as the Indian IT services firm announced it had won two multi-million dollar enterprise technology contracts  in South America. The company said the contracts would be implemented by its Brazilian captive facility.

References:

  1. “India’s IT-BPO market may touch $285 bn in 2020: Report”. 9 February 2010. Economic Times of India. Accessed 9 February 2010. Link Here.
  2. “Genpact eyes 14% revenue growth in ’10″. 6 February 2010. Economic Times of India. Accessed 9 February 2010. Link Here.
  3. “Mahindra Satyam gets contracts in South America.” 5 February 2010. Economic Times of India. Accessed 9 February 2010. Link Here.
  4. “Wipro seeks 50 acres near Bangalore airport for IT park”.  5 February 2010. Economic Times of India. Accessed 9 February 2010. Link Here.
  5. “IT, BPO export revenues likely to rise by 5.5 per cent.” 5 February 2010. Economic Times of India. Accessed 9 February 2010. Link Here.
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