According to a report by Internation Data Corporation, the Indian software and BPO segment is slated to garner around USD 132 Billion in annual revenues by 2012.

This translates into a CAGR (Cumulative Annual Growth Rate) of 18.4% in dollar terms. The IT export market is likely to more than double, IDC claimed.

This is certainly a welcome report for the IT industry that has been struggling with its margins off-late, due to appreciation of rupee against the dollar. Let's hope that business growth coupled with higher productivity can pull the Industry out of the woods in the coming few years.

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