The IT and IT enabled services (ITeS) sector are giving India the image of a young and resilient global knowledge power. The IT-ITeS industry has four major sub-components: IT services, business process outsourcing (BPO), engineering services and research and development (R&D), and software products.
As per the estimates of NASSCOM, India's IT and BPO sector revenues were US$ 87.6 billion in 2011-12, generating direct employment for nearly 2.8 million persons and indirect employment of around 8.9 million.
As a proportion of national GDP, IT and ITeS sector revenues have grown from 1.2 per cent in 1997-8 to an estimated 7.5 per cent in 2011-12.
Software exports in 2011-12 are estimated at US$69 billion compared to US$59 billion in 2010-11. While exports continue to dominate the IT-ITeS industry and constitute about 78.4 per cent of total industry revenue, the CAGR of the domestic sector has also been high at 12.8 per cent compared to the 14.2 per cent for exports during the Eleventh Five Year Plan period. The growth rate of the domestic sector in 2010-11 was 20.6 per cent as compared to 18.8 per cent for the export sector; in 2011-12 it was 9.7 per cent for domestic sector and 16.4 per cent for export sector. In 2012-13, as per NASSCOM estimates, export revenues are expected to grow by 11-14 per cent and domestic revenues by 13-16 percent.
These estimates are a pointer to the possibilities of making further forays into the untapped domestic sector for IT and ITeS. Consistent demand from the US and the European countries, which increased its share in total exports of India's IT and ITeS services from 61.5 per cent to 62 per cent, characterized 2011-12.
INDIAN INSURANCE INFORMATION TECHNOLOGY AT A GLANCE IN 2011 - 2012 
