India only account for 59% of US outsourcing spendings

India - 59%
The Philippines - 9%
Canada - 8%
Brazil - 8%
Central and Eastern Europe - 7%
Mexico - 4%
China - 3%

Besides, Gartner estimates that total IT services growth is expected to grow from $18 billion in 2004 to $52 billion by 2007.

Merrill Lynch says IT spending will go up 4.2% in 2007

Here are some summary of Merrill Lynch's Predictions:

• Overall IT spending: UP 4.2%
• Consultants and SI spending: UP 4.6%
• Large scale IT outsourcing: UP 2.7%
• BPO: UP 2.1%