IT's moving....

Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance) has selected Oracle Financial Management for effective financial control over its 77 cities and towns across India

Bharat Sanchar Nigam Ltd. (BSNL) has announced that Oracle has won a contract comprising Oracle Applications, Oracle Database and Oracle Fusion Middleware which will drive BSNL's aggressive growth plans and enhance customer service delivery.

The Indian IT-BPO revenue aggregate is expected to grow by over 33 per cent and reach $64 billion by the end of FY2008.

IT exports (including hardware exports) are expected to cross $40.8 billion in FY2008 as against $31.9 billion in FY2007, a growth of 28 per cent.

Domestic IT market (including hardware) is estimated to reach 23.2 billion in FY2008 as against $16.2 billion in FY2007, a growth of 43 per cent.

The direct employment in the sector is expected to reach nearly 2 million, an increase of about 375,000 professionals over FY2007.

IT services exports, BPO exports and Domestic IT industry provides direct employment to 865,000, 704,000 and 427,000 professionals respectively.

As a proportion of national GDP, the Indian technology sector revenue has grown from 1.2 per cent in FY1998 to an estimated 5.5 per cent in FY2008.

The Indian Knowledge Process Outsourcing (KPO) industry will have revenues in the range of $10-17 billion by 2010, a study by KPMG said. Of this, financial KPO would alone account for $5 billion, the study said

Firstsource bags $80 mn Barclays deal

GlobalLogic today announced the opening of its 39000 sq. ft new facility in Pune

(Source: NASSCOM, Various news sites and magazines)