New Delhi, July 29 - India's information technology and outsourcing industry is expected to grow over 7 percent this fiscal to log revenues of $64 billion with much faster expansion within the domestic market, a leading industry group said Wednesday.

The National Association of Software and Service Companies (Nasscom) has forecast in its latest study that the software and outsourcing industry will log an export growth of 4-7 percent this fiscal to log $48-50 billion in revenues.

Domestic revenues for the industry will, however, grow much faster at 15-18 percent to touch $13 billion, the industry lobby said in its annual survey on the sector.

In the previous fiscal, export revenues recorded a growth of 16.3 percent and clocked revenues of $46.3 billion, up from $40.4 billion, while the domestic segment grew 21 percent to $11.4 billion from $9.4 billion.

'While growth was synonymous with industry performance in the past decade, resilience and efficiency was the thrust in the year 2008-09,' said Nasscom chairman Pramod Bhasin.