Indian IT exports to grow 33% in current year
India will grow its software and services exports by 33% to $31,3bn in the 12 months to March 2007, according to trade association Nasscom. The export total is dominated by IT services sales, which are expected to hit $18,1bn in fiscal 2007, up 36% from the previous year. A further $8,3bn will be generated by the export of business process outsourcing services, while the remaining $4,9bn is derived from engineering and research and development services.
Chinese IT spending hits $73bn
China spent some $73bn on IT in 2006, up 15,6% from the previous year, according to a recent report from China Center for Information Industry Development, a Chinese government research firm. CCID found that software sales rose 18% and services sales grew 26% last year. Hardware still accounts for the bulk of the Chinese domestic IT market, but with software and services on the rise, and as competition forces hardware prices further down, hardware sales will shrink to 50% of overall Chinese IT sales by 2011.
Aon plans back-office outsourcing
Chicago-based insurance brokerage firm Aon has announced plans to offshore part of its back-office operations, including accounting and administrative support services, to Genpact. Aon is planning to cut about 550 back-office jobs from its operations in New York, Texas, and Maryland by 2007 as part of its restructuring plans. (18 Jan, 2007)
RBS to grow Indian centre
The Royal Bank of Scotland is planning to ramp up headcount at its India development centre to between 1000 and 1200 by 2008. At present, the centre employs approximately 700 people and provides IT services to retail, corporate and global-banking-markets businesses. (26 Jan, 2007)