India's software industry to grow 23% this year

While the US lost 234,000 IT jobs in 2003, for Indian techies 152,000 new jobs were created. Jobs in India's booming software services sector are estimated to grow 23% in the year to March 2004, as the sector benefits from outsourcing by global clients, an industry association said on Wednesday. The showpiece sector, which includes high-end technology consulting, back-office and call center work, is expected to employ some 813,500 people at the end of March, up from 661,000 a year ago, the National Association of Software and Services Companies said in its annual strategy report.

Exports from the industry, whose main market is the United States, are forecast to rise between 26 and 28% to around $12.0 billion, up from $9.5 billion in the previous year. About $8.4 billion is expected to come from software services. The industry is estimated to employ 568,000 people by the end of March, up 16% on the year.