Sales by India's flagship outsourcing industry are likely togrow by 11 percent this fiscal year to at least $75 billion in the face of achallenging business environment, an industry lobby group said.
The forecast is at the lower end of an 11-to-14 percentprojection given by the National Association of Software and ServicesCompanies, or Nasscom, earlier in the year.
Nasscom president Som Mittal told reporters in the financialhub Mumbai that the industry has been able to grow despite the “challenging environment”
Companies such as TCS, Infosys and Wipro lead India's IToutsourcing industry that performs a wide range of tasks for Western firms --from answering calls from bank customers and processing insurance claims tosoftware development.
Most Indian IT outsourcing firms say the outlook remainschallenging as clients in key US and European markets contend with sluggishgrowth and slow decision-making, along with political opposition to outsourcingjobs in the face of high domestic unemployment.
India, with its large English-speaking workforce, accountsfor at least 50 percent of the global outsourcing market and the industry is avital exporter for the country.
Nasscom chairman N. Chandrasekaran said business prospectswere brightening in the United States despite anti-outsourcing rhetoric duringthe recent US election campaign.
"The US economy is recovering and will (have to) dependon technology," he said. "So there is going to be (outsourcingbusiness) growth."
