Indian IT/BPO industry to grow to USD 50 bn - Nandan Nilekani

The Indian IT and BPO industry could become more than double its size to 50 billion dollars and create 2.3 million jobs in the next few years, Infosys CEO Nandan Nilekani said today.

"The IT and BPO industry will grow to 50 billion dollar and create about 2.3 million jobs directly and 10 million indirectly. Currently, the industry stands at 24 billion dollar," he said at the convocation ceremony of Teri University.

India can achieve 9-10 per cent economic growth in near future but it would have to be widespread to create 10-14 million jobs every year, he said.

India has a very young workforce, with the majority of population in the age group of 15-64 years. This would lead to more earnings and savings, he said, adding the dependency ratio would decrease to a large extent.

For achieving higher growth, India will have to maintain its capital productivity and ensure that the growth is equally distributed in urban and rural areas, he said.

"By 2020-25, the country will achieve 50 per cent urbanisation, where one out of two people will live in city," Nilekani said.

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