GLOBAL SOURCING TRENDS IN 2007
§ Worldwide technology products and related services sector spends are estimated to have grown at 7.3 per cent to nearly reach USD 1.7 trillion in 2007
§ IT-BPO services, growing at an above-sector-average rate of nearly 8 per cent, remain the largest category, accounting for an increasing share of the worldwide technology sector revenue aggregate.
§ Outsourcing continues to be the primary growth driver, sustained by gradual shifts in regional spending patterns – with increasing traction in Europe and Asia Pacific offsetting a marginal decline in share of the Americas.
§ Underlying this steady growth in services spends is the increasing adoption and continued evolution of the global sourcing supply-chain. Global sourcing of technology related services is estimated to have grown by about 30 per cent to reach USD 70-76 billion in 2007.
§ The Indian IT-BPO revenue aggregate is expected to grow by over 33 per cent and reach USD 64 billion by the end of FY2008.
o IT exports (including hardware exports) are expected to cross USD 40.8 billion in FY2008 as against USD 31.9 billion in FY2007, a growth of 28 per cent.
o Domestic IT market (including hardware) is estimated to reach 23.2 billion in FY2008 as against USD 16.2 billion in FY2007, a growth of 43 per cent
§ The direct employment in the sector is expected to reach nearly 2 million, an increase of about 375,000 professionals over FY2007.
o IT services exports, BPO exports and Domestic IT industry provides direct employment to 865,000, 704,000 and 427,000 professionals respectively.
§ As a proportion of national GDP, the Indian technology sector revenue has grown from 1.2 per cent in FY1998 to an estimated 5.5 per cent in FY2008.
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