Indian IT industry to reach $50 billion.

In spite of all the earlier backlash on business process outsourcing to India and the complaints on low quality of work, the IT industry’s revenue in India continues to grow and it is quoted that the Indian IT-ITES industry revenues will reach $5o billion mark for the year of 2007-08.

Now, this growth is definitely not just due to low end business process outsourcing but due to more sophisticated and high end work. Lakshmi Narayanan, Chairman, NASSCOM states that the growth is due to the outstanding performance of newer service lines of engineering services and infrastructure management.