Monday, March 14 2005 18:06 Hrs (IST) - World Time -

New Delhi: IT-ITeS exports from the country are expected to reach $ 17.9 billion in 2004-05, a projected growth of 34.58 per cent over last fiscal export revenue figures, according to Nasscom Strategic Review, 2005.

"IT-ITeS exports grew to $ 13.3 billion in 2003-04. The value of IT-ITeS exports from India is expected to reach $ 17.9 billion by the end of current fiscal," it said.

This forecasted growth is translating to a CAGR of 35.3 per cent over FY 2000-05.

In ITeS-BPO segment, which is the fastest growing area, exports are expected to cross the $ 5-billion mark in 2004-05. In 2003-04, they were worth $ 3.6 billion.

The IT services and software exports are likely to touch $ 12.2 billion in FY05 based on the performance of the first three quarters, a forecasted growth of 32 per cent.

In FY'04, the segment has clocked revenue of $ 9.2 billion.

Indian IT services and software, which are expected to exceed $ 16.5 billion in FY05, grew by nearly 30 per cent in FY04, driven primarily by service exports, accounting for about 72 per cent of the segment revenue, the review said.

It added, "inspite of the ongoing rhetoric against the off-shoring of work to lower cost destinations, the economic upswing in key markets towards second and third quarters of FY04 helped fuel the growth of India IT services and software exports".