Indian IT industry could touch a total revenue of $15.5 billion in 2004 against $12 billion last year, according to National Association for Software and Service Companies.

Issuing its outlook for 2004, Nasscom said, software and services exports are likely to achieve 26-28 per cent growth, which translates into $12 billion and the ITeS-BPO segment is may touch $3.6 billion, an estimated growth rate of 54 per cent.

In 2003, software exports were around $9.5 billion and ITeS-BPO sector revenue was $2.3 billion.

IT services, products and technology services are projected to grow by 17 per cent to touch a revenue of over $8.4 billion in 2004. In 2003, it was $7.2 billion.

Software exports provided employment to 650,000 people in 2003 while ITeS-BPO segment employed 171,000 people, Nasscom said.