Information technology industry body Nasscom on Wednesday said Indian IT-BPO sector revenues would cross $101 billion in 2012-13. But, it still has fears about future because of global uncertainties and would do another round of review for the industry in October 2012.

It is estimated that out of $101 billion, $69 billion would accrue from exports and the remaining $32 billion from domestic market.

Global sourcing market was reported to be around $118 billion in 2011 that grew by around 12 per cent from around $106 billion in 2010, Nasscom said in its annual review. India’s share on global sourcing also rose to 58 per cent during 2011 up from 55 per cent in 2010. However, the outsourcing sector reported a robust 16 per cent revenue growth notwithstanding the fact that employees’ growth was a modest nine percent in 2011. Hiring is expected to be lesser at 100,000 jobs in the next fiscal and growth in wage hike would be lesser at around 8-10 per cent, it said.

IT-BPO industry as a whole has 2.8 million employees across over 5,000 companies out of which around 750 have become multi-national companies (MNCs) with presence in more than 70 countries and 35 different languages. The industry’s 61 per cent of revenues come from outsourcing market. “This has been a good year for the industry and was well above our expectations. We have seen a growth of 16.3 per cent and there is further headroom for growth this fiscal given the kind of deals being clinched,” Nasscom chairman Rajendra S Pawar said. He said companies are going in different geographies, gaining new business deals from existing clients and are concentrating in emerging markets that would lead to growth of the industry.

Pawar said present environment has become uncertain due to elections in US and India as well as the Eurozone crisis. But, still the industry is expected to grow between 11-14 per cent, he said. “Looking at such factors, we will revisit this forecast in October 2012. The mood is more sombre now and these uncertainties are forcing us not to look at the whole year,” he said.

“Verticalisation, operational excellence and expanding global delivery model were internal priorities for the industry this year. Domestic market for last couple of years has been growing faster than exports sector and would continue to be key thrust area for industry,” Nasscom president, Som Mittal said. He said campus hirings are being done by many firms and there is a strong hiring pipeline of over one-lakh offers.

ronendrasingh@mydigitalfc.com