Infotech stays on high growth path

The IT and ITES export industry is likely to grow at a higher 27-30 per cent pace in 2006-07, to reach 29 billion to 31 billion this fiscal, it said. The business now employs 1.29 million people, up from around 1 million in 2004-05. Employment is predicted to grow by 2.5 to three lakh this year.

Over 2000-2006, boom years for the Indian software industry, overall revenues grew by nearly 35 per cent. 8216;8216;As global IT spending veers around the 5-6 per cent range and BPO spending by 10-11 per cent, Indian companies will see greater opportunities to grow,8217;8217; Nasscom president Kiran Karnik said.