India's outsourcing industry is expected to be contributing $50 billion annually to its economy by 2012, according to the National Association of Software and Service Companies (Nasscom).
Nasscom predicts that the nation's outsourcing sector will expand by 50 per cent, despite the potential of a recession hitting the US economy.
This is expected to be achieved by targeting untapped markets which the association estimates are worth around $280 billion, the Reuters news agency reports.
Should the growth be attainable it could result in the creation of two million direct jobs in India being created and boost the country's GNP by 2.5 per cent.
Nasscom president Som Mittal told delegates at a news conference: "We have barely scratched the surface so far. The industry is now at an inflection point, ready to take off."
The Indian outsourcing sector has grown in size by 35 per cent over the last five years and now brings in $11 billion to the national economy annually.
