NEW DELHI: Software and business process outsourcing (BPO) exports are expected to rise 5.5% to touch $50 billion in the current fiscal (2009-10), industry body Nasscom said on Thursday.

The estimation is in line with an earlier forecast of 4-7% given by Nasscom... the industry was optimistic to reach the $50 billion milestone export target in the current fiscal.

For 2010-11, it hopes that exports should grow at an annual 13-15% to touch $56-57 billion as the slowdown peters out and the world economy recovers boosting demand for outsourcing.

Releasing the sector performance estimates for FY09-10, Nasscom said: "Export revenues for the Indian IT-BPO industry are expected to record a growth of 5.5% to reach $49.7 billion in FY 09-10."

Industry will continue to be a net hirer with direct employment expected to grow by 4% and cross 2.3 million with over 90,000 jobs added in FY09-10, Nasscom president Som Mittal said.

Pramod Bhasin, chairman, Nasscom and president and CEO, Genpact, said: "The performance of the industry this year is far stronger than what is reflected through the growth numbers."

"With a renewed value proposition, we look forward to a terrific future with growth estimates of 13-15% in FY11 for the export sector and 15-17% for the Indian market."