IT-BPM export revenues are expected to grow 10.3 percent to $108 billion in fiscal 2016 — with digital solutions business demonstrating 1.5X growth, said NASSCOM.
IT-BPM domestic revenues grew 10 percent to INR 1410 billion driven by increased adoption of digital technology by consumers, ecommerce and start-ups coupled with a technology focused Government growth agenda. The E-Commerce segment also added estimated revenues of INR 1084 billion in FY 2016.
The Indian IT-BPM industry employee base has reached 3.7 million with an addition of 2 lakh employees in FY 2016.
Amidst a growth of 0.4 per cent in the global IT-BPM in 2015, the industry is expected to reach an estimated $143 billion in FY2016, doubling its revenue over the last six years and crossing the $100 billion milestone in export revenues. In addition, E-commerce contributed $17 billion revenue boosting digital consumption. India continues to gain market share in the global sourcing sector and emerges as the largest, most diversified and scalable destination.
WAY FORWARD FY2017
With increase in technology spending estimated by global technology analysts, Industry expects the double digit growth story to continue in FY 2017. The IT-BPM industry export revenue is expected to grow 10-12 percent in FY 2017 to $119-121 billion.
The domestic revenue is expected to grow 11-13 percent to INR 1560-1590 billion in FY 2017. The industry is expected to add a net employment around 2 lakh.
NASSCOM says the size of the IT-BPM industry will be $350 billion by 2025, with digital revenues spearheading growth.