Indian IT companies are looking at the domestic market to balance for the lost revenue since export revenues are shrinking. However, there is still hope of development in the industry though at a lower rate companies have already started focusing on their domestic business. In spite of being confident over the recovery by mid-2010, the Indian IT industry is likely to post single-digit growth of 4-7% for its software and services export during 2009-10.
However, while the domestic IT-BPO market is anticipated to grow by 15-18% to Rs 650-670 billion in 2009-10, Nasscom has halved its export growth projections to 4-7% for the current fiscal to touch $48-50 billion. Talking about the hiring scenario in the industry, it is said that net hiring is expected to continue to increase this year hence, the companies will take in the people to whom offer letters were given and so the net hiring would be up.
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