NEW DELHI: Country's exports, including BPO services, software and financial services
exports, are likely to be hit by the global meltdown in the fourth quarter of 2008, says a report by global research firm Deloitte. "The ongoing slowdown in the US economy will likely to affect the future growth in India's exports. Experts predict that US businesses would likely either reduce outsourcing or withhold expansion plans," the report Deloitte Global Economic Outlook for the fourth quarter of this year said. Consequently, as a result of the financial crisis, the BPOs, financial services and other software exports contributing to about 2 per cent of India's GDP are likely to be affected, the report said. Software industry body NASSCOM has also predicted that there would be a significant impact of the global crisis on the Indian BPO sector. The financial turmoil and recessionary tendencies in major economies have already impacted India's export growth, which slowed to 10.4 per cent in September even as the country increased its imports by 43.3 per cent over September 2007.
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