India's IT industry is likely to exceed 1 lakh crore (approx $28.3 bn) in turnover in 2004-05. The ITes segment will grow at approx 20% (up from 18%), the IT services and software segment will grow at 58.8% (down from 59.3%) and hardware at 21.2% (down from 22.4%). Presently the ITes and the ITS segments contribute over 78% of the turnover. Further, increasing from the present 3.5% contribution to the GDP, IT will contribute over 4% of GDP in 2004-05 fiscal.
Article in the Hindustan Times: IT industry to cross Rs 1 lakh cr in 2004-05