New Delhi: Indian IT industry could touch a total revenue of $ 15.5 billion in 2004 against $ 12 billion last year, according to National Association for Software and Service Companies (Nasscom).

Issuing its outlook for 2004, Nasscom said software and services exports are likely to achieve 26-28 per cent growth, which translates into $ 12 billion and the ITeS-BPO (business process outsourcing) segment may touch $ 3.6 billion, an estimated growth rate of 54 per cent.

In 2003, software exports were around $ 9.5 billion and ITeS-BPO sector revenue was $ 2.3 billion.

IT services, products and technology services are projected to grow by 17 per cent to touch a revenue of over $ 8.4 billion in 2004. In 2003, it was $ 7.2 billion.

Software exports provided employment to 650,000 people in 2003 while ITeS-BPO segment employed 171,000 people, Nasscom said.

Share of software exports to India's export revenue is around 20.4 per cent at present, taking into account 2003 software export revenues.