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The information technology industry has emerged as one of the fastest growing industries in India. As a proportion of Gross Domestic Product, the information technology industry revenue has grown from 1.2 percent in 1998 to an estimated 5.5 percent in 2008. India's domestic market is estimated to grow by 20 percent growth in 2008-09. Hardware segment is estimated to grow by 17 percent to be Rs. 541 billion, information technology services segment is estimated to grow by 20 percent to be Rs. 380 billion. Whereas software products and BPO segment is estimated to grow by 15 percent to be Rs. 103.3 billion. Export growth is expected at 16-17 percent in 2008-09. According to the latest findings of NASSCOM, the aggregate revenues of the sector are expected to reach USD 60 billion in 2008-09. Industry will continue to net hire and focus on value creation, provide direct employment to 2.23 million and indirect job creation estimated to eight million employees. Indian information technology sector is developing as the biggest source of revenue and employment generator. The growth of information technology industry will also develop the other industries of the economy. This industry has a number of customers in India, as well as also in abroad. The USA (60 percent) and the UK (19 percent) remain the largest, information technology export markets in 2008. The industry footprint is steadily expanding to other geographies - with exports to continental Europe in particular is growing at a CAGR of more than 51 percent over 2004-2008