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BFSI exports worth $10 bn in ’06: Nasscom
PRACHI VERMA / New Delhi
India’s IT export revenues from the banking, financial
services and insurance (BFSI) sector are likely to account for $10 billion in
2006 from $3.32 billion in 2003, according to Nasscom.
“BFSI accounts for 35 percent of the total software
and services export revenues ($9.5 billion) and in the next three years, this
sector will account for 50 per cent of the total IT software and services export
revenues,” Nasscom vice president Sunil Mehta said.
Though this is just an estimate, even the ground reality
is not different from this.
At a recently organised annual event on banking operations—SIBOS
2003
(Swift International Banking Operations Seminar), most
companies, including banks and technology companies serving the financial sector,
shared their interest in exploiting the Indian talent pool. These include ABN-AMRO,
ING, Commerzbank, NextSet, ADP, i-flex solutions and Misys International Banking
Systems.
ABN-AMRO already has operations in India and is looking
at scaling up its back-end operations, said senior executive vice president
Jaap Kamp. However, he did not disclose any details but said that India was
a favourable destination for its back-end operations.
Similarly, Commerzbank is evaluating the opportunity
to set up an English-based competency centre in India. “It makes sense
for setting up back-end operations in India and we might look at setting up
a centre where English will be the main language,” Commerzbank spokesperson
said.
—The Financial Express
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