Indian software and backoffice industry generated $23.6 bln in fiscal 2005-2006

India’s software and backoffice services industry recorded 33% growth in export revenue to $23.6 bln in the year to March 2006. This included $6.3 bln from services like call centres, payroll processing, claims management and high-end financial analytics. Including the domestic market, the sector expanded 31% on year to $29.6 bln. Overall software and services revenue is projected to grow 25-28% to $36-$38 bln in the year to March 2007. Exports are likely to grow 27-30% to between $29-$31 bln. The United States is the biggest market for Indian software firms, accounting for as much as 70% of revenue.