'India's Top ITeS and BPO Companies 2005' 155 outsourcing organisations servicing a gamut of industry verticals including Manufacturing, Legal, Banking and Finance, Government and Pharma. While the universe of outsourcing organisations in India is quite large - with small and medium players also finding a place - the publication is restricted to companies that employ over 150 employees in total.The service sector in India continues to show healthy growth, touching 8.9% in FY05. With the contribution of services to the country's GDP near the 50% mark, this sector continues to look attractive. Total services exports in FY05 were worth US$ 51.3 bn. Of this, software exports accounted for US$ 17.3 bn - a full 33.7% of the total. Year on year, software exports have grown at the rate of 41.8%. At this rate of growth, this segment alone will touch US$ 50 bn by 2008, if not sooner.The term 'Software exports', however, does not immediately make apparent the role of the Business Process Outsourcing (BPO) and IT-Enabled Services (ITeS) in the growth of this segment. BPO will play a vital role if India is to achieve the US$ 50 bn target by 2008. In 2004-05, the ITeS-BPO segment accounted for nearly 30% of the total software exports from India. The growth rate in this sector actually exceeds that of the software exports umbrella, at a healthy 44.5%.Captive BPO units continue to dominate the total value of work outsourced to India. In the period of 2004-05, captive units accounted for 65% of the work offshored to India. However, with some large players modifying their strategies to include third-party work, this is bound to change in the years to come.