Here is the India’s GDP growth forecast for 2008-09 by major financial and research institutions including International Monetary Fund (IMF).

GDP GROWTH FORECAST FOR INDIA: 2008-09

Forecast (in %)

• IMF - 7.9%
• ADB - 8.0%
• UNESCAP - 9.0%
• Citigroup - 7.7%
• Deutsche Bank - 8.4%
• Morgan Stanley - 7.0%
• JP Morgan Chase - 7.0%
• HSBC - 7.0%
• UBS - 8.2%

India’s software services industry employs about 2 million and contributes 4.5% of India’s GDP. The information technology industry is expected to generate about $64 billion in revenues for the year ending in March, a growth rate of 33%.

Also Read: India Computer Services Revenue to Exceed Forecast