Software exports from India will attain the $50-billion target by 2008 as situation is conducive, even though the industry requires to post a 33 per cent growth in the coming years, National Association of Software and service Companies has said.

"The Indian software industry posted a 26 per cent growth during the last financial year, even though IT spending remained flat," Nasscom president Kiran Karnik told reporters in Mumbai on Tuesday, adding the industry's base had posted a 50-60 per cent growth during the current fiscal.

The drivers of growth during the previous fiscal were Business Process Outsourcing and software exports, and the industry expects to replicate this in the coming years, Karnik said.

About the BPO industry, Karnik said it was on the growth path and the sector worldwide was also slowly emerging from its slumber.