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The financial results of the country’s top three software exporters had already provided signs of recovery earlier this month. India’s software exports industry derives more than half of its revenues from the US.

“The IT industry has seen a better Q2 and given positive guidance for rest of the fiscal. The GDP data reinforces the optimism,” said S Gopalakrishnan, CEO of Infosys Technologies.

Meanwhile, Indian companies seeking to grow their revenues from European markets in order to offset the US slump may find the going tougher. “Europe is the second biggest market for Indian IT companies, and the UK-the biggest European market-is coming out of recession in a very sluggish manner,” said Mr Bartels.

Read more in infotech.indiatimes.com

Yesterday, IBM  signed a 10-year information technology (IT) outsourcing agreement with Innovation Auto Risk, an established leader in
the Indian market providing claims management services and other related solutions to insurers & fleet management companies.

As part of the agreement, IBM will deploy server, storage, networking and security IT infrastructure to be hosted at a data center in Delhi. IBM will provide 24×7 onsite infrastructure monitoring services from an onsite command centre.

India still controls as much as 65 percent of the industry and derives an estimated US$52 billion in annual revenues from it, employing more than 2 million people in finance, human resources and customer services. However, this industry is continuing to change dramatically, growing progressively.

BPO industry is growing at a scorching 35 percent annually. India has lately been losing some of its sheen as the world’s favorite back office. Growth has tapered off to 10 per cent this year and most Indian companies are finding their market share eroded by countries like China, Philippines, Russia and Eastern Europe.

Such like Philippines, althouth is a poor country beset with political strife and corruption, its government is doing everything it can to get more American companies to outsource to it. And companies from a few East-European countries too, are cutting their prices to lure western companies.

Read this news in asiasentinel.com

The e-learning outsourcing business in India is likely to grow at a rate of 15 per cent annually for the next three years to touch $603 million by the end of 2012, a study says.

According to a study by business intelligence and research provider ValueNotes, the e-learning outsourcing industry will suffer the impact of the global economic recession for the next 6-8 quarters but growth is likely to pick up after that.

“While, the economic recession will impact the growth in the industry for the next 6-8 quarters, the market will recoup and grow much faster until 2012,” the study said.

Further, the market size of Indian e-learning outsourcing business will touch the $603 million level by the end of calendar year 2012, it said.

Last year, the revenues from the e-learning offshoring industry in the country stood at approximately $341 million.

Considering the estimated correction in the outsourcing market in the country, the study titled ‘e-learning Outsourcing 2009: Advantage India’ finds that the e-learning offshoring industry will grow at a compound annual growth rate (CAGR) of 15 per cent till 2012, though growth will be more subdued till 2010.

Read more in: business-standard.com