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`Domestic software market to grow 25 pc this fiscal'

Our Bureau

New Delhi , Jan. 10

THE National Association of Software and Services Companies (Nasscom) has said the domestic software market is expected to grow at an all-time high of about 25 per cent in the current financial year, even as exports are on track to meet the growth target of 30 to 32 per cent.

"The projection for the domestic market is 20-25 per cent and we should be on the upper band of this target,'' the Nasscom President, Mr Kiran Karnik, said at a conference to announce the Nasscom Global Leadership awards here on Monday.

The expectation to maintain the export growth target comes on the back of strong results posted by companies in the first six months.

Mr Karnik, however, emphasised the need to improve infrastructure. ``It is becoming a first order constraint now and major bottleneck for companies. We need to improve infrastructure. The challenge is also to turn India into a top-of-the-mind product destination, focus on innovativeness and improve scalability," he said.

Nasscom Global Leadership Awards in various categories will be given at its forthcoming summit in Mumbai. Intel CEO, Dr Craig R Barrett, as bagged the Award for Creativity, while Hewlett Packard Chairman and CEO, Ms Carly Fiorina, won the Award for Vision.

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