Roundup: IT Exports from India to Grow 13-15%; Zinnov Sells Talent Neuron & More

Nasscom LogoIT exports from India will grow at 13-15% this year (FY15), India’s software lobby Nasscom predicts. According to the latest report by National Association of Software & Services Companies, IT exports from India will be between $97-$99 bn.

Adding the BPO industry’s exports, the total exports will be $118 bn, the report said. Here are some other highlights of the report.

  • Industry export’s estimated at USD 86bn – growth of 13 per cent (FY14)
  • Domestic revenues were INR 1910 bn – growth of 9.7 per cent  (FY14)
  • Industry added 160,000 employees – direct employment – 3.1 million; indirect employment- 10 million  (FY14)
  • Global IT spending projected to grow faster in 2014- IT by 3.9 per cent, BPM by 5.9 per cent (FY15)
  • Increased contract volume for global sourcing (FY15)
  • Industry revenues expected to reach USD 130 billion (FY15)

Zinnov Sells Talent Neuron

Management consulting firm Zinnov said that it has sold Talent Neuron, a web-based talent planning and management platform for HR professionals to Corporate Executive Board. The company did not disclose the deal size. 

“Talent Neuron is designed to assist in planning and managing through the life cycle of their talent, said Vamsee Tirukkala, Co-Founder & Board of Director, Talent Neuron

Persistent Systems Acquires CloudSquads

Pune based Persistent Systems has acquired CloudSquads, a consultancy that has created social communities for over 70 companies. The company deploys, integrates and runs social communities for enterprises. The deal size wasn’t disclosed. 

CloudSquads helps companies develop a strategy for engaging customers on social media.

In December 2013, the the software product and technology company launched Persistent Venture Fund, an early-stage investment fund. It is yet to make any investments.

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