Indian IT Market Rides High On Demand Business Line, New Delhi, December 23, 2006: The Indian IT market, on the back of strong demand over the past few years, has emerged as one of the fastest-growing ones in the Asia Pacific region, says the ministry of communications and IT, Government of India. The Indian software and ITeS industry has grown at a compound annual growth rate (CAGR) of 28 per cent during the last five years. According to a statement issued by the ministry, the industry's contribution to the national GDP has risen from 1.2 per cent during the year 1999-2000 to a projected 4.8 per cent during 2005-06. The software and ITeS exports from India grew from $12.9 billion in the year 2003-04 to $17.7 billion in 2004-05. The total software and ITeS export from India is estimated at $23.4 billion during the year 2005-06. Software and services exports have grown at 32 per cent in dollar terms during the year 2005-06. The total number of IT and ITeS-BPO professionals employed in India is estimated to have grown from 284,000 in 1999-2000 to 1,287,000 in 2005-06, growing by over 230,000 in the last year alone. Besides, the market is estimated to have helped create an additional three million job opportunities through indirect and induced employment. Back