India’s National Association of Software and Service Companies expects to see double-digit growth for the sector in the current fiscal year. NASSCOM forecasts a revenue increase somewhere between 11 and 14 percent for the period, down from the 16 percent that was reported for the Indian tech outsourcing market last year.

It’s not all gloom and doom however – the trend is recovery rather than decline, now that enterprises across the US and Europe are starting to benefit from improving economic conditions.

”We are far from a situation that is reassuring, but the general view is that the economic situation, especially in the U.S., has improved in the last few months,” Apurva Shah, head of investment research at BNP Paribas Mutual Fund in Mumbai, said. “Even though the IMF is not saying anything new, coming from them, people are bound to sit up and take notice. The worry is that any small thing can still suddenly take us back.”

Sah expects the larger players to benefit the most from this trend. Infosys, the second largest outsourcing firm in the region, is expected to post a 25 profit increase in its upcoming earnings call on Friday.

Assuming its financial performance lives up to analysts’ expectations, this increase will be a much needed boost for Infosys’ stock.  The company hit a low in July when its slashed its growth forecast for this year, but has climbed 18 percent since then.

Rival Tata Consultancy Services, a top tech firm in India, has gained 22 percent on its April low. TCS’s outlook is “looking good, looks positive, [and] there’s no negative news” according to CEO  N. Chandrasekaran.

Outsourcing firms are poised to take advantage of growing demand in both their core businesses and newer markets, namely big data. Research firm Wikibon predicts this segment will hit $10.2 billion this year, and 44 percent of this spending will go towards services.