With a steady recovery in major markets such as the US and Europe, Indian IT and BPO export is likely to grow three-fold to USD 175 billion in         revenue by end -this decade, apex software industry body Nasscom said today.

However, in 2011, the IT industry will witness a flat growth at 18 per cent. Last year, revenues from software exports and BPO services stood at USD 59 billion, it said.

"IT will continue to play a significant role in the transformational agenda of India. Export revenue is expected to increase three times at USD 175 billion by 2020. However, among the various segments in the sector, the IT segment will continue to perform better than the BPO industry and software and engineering products," Nasscom President Som Mittal told reporters here.

India contributes about 55 per cent to the global outsourcing of IT-ITES services and about 26 per cent in the exports market. Of the total export in FY 10, IT services witnessed a growth of 27 per cent followed by BPO at 12 per cent and software production at 10 per cent.

In FY 11 as well, major export revenue came from IT segment.

Nasscom, which will conduct its 19th leadership forum here from February 8-11, also forecast that the current decade will witness a major demographic shift, that would fuel the growth of sectors such as retail, health and education that will start including IT services.

"About 80 per cent growth will be driven outside the current core and traditional sectors, verticals and customer segments," Mittal said.