Despite the impact of the global economic meltdown that affected its predominantly US-based business, the BPO sector in India would grow by 15 per cent during 2009-10, marginally lower compared to the previous fiscal, NASSCOM today said.
The trade body for IT software and service industry, however, maintained the job losses witnessed in the sector during recent months, due to drop in business from global economic factors, was 'small' and not of 'serious concern'.
It was less than one per cent of the two million jobs the sector had offered,it claimed.
Speaking to reporters on the sidelines of the two-day 11th annual NASSCOM BPO Strategy Summit, which began here today, NASSCOM Chairman Pramod Bhasin said the industry would grow in the mid double digit at around 15 per cent, marginally lower than the previous year's figures of 16 per cent.
After bearing the brunt of the global economic slowdown, the 15 billion US Dollar BPO industry was now looking at new geographies like Brazil, Russia and China to maintain its growth and was giving a thrust to partnering with the Indian Government for 'inclusive economic growth'.
''We have presence in 40 countries and what we need is to explore newer markets other than the two economic majors to drive our growth.
" We know the trade and can be very cost effective even while we do business off shore,'' he stressed.
NASSCOM President Som Mittal said non traditional areas like those other than the US and the UK markets would spur the growth of the sunrise IT, BPO and ITeS from the present 50 billion USD to 225 USD by the year 2020.