Industry & Economy
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Economic Survey
IT's major success story, says Survey
Our Bureau
New Delhi
,
July 7
TERMING the information technology industry as a major success story, the pre budget Economic Survey on Wednesday said the domestic IT and electronics sector witnessed a 21.6 per cent growth during 2003-04.
The survey also lauded the Government's contribution to the growth of the IT industry through telecom policies that facilitated low-cost computer networking in the country and investments in human capital such as through the IITs.
"Exports of computer software and IT-enabled services have become a large component of the exports of the country. This is also an area where the Government's role has been very different from that in some other industries," itsaid.
The export of software and services increased to Rs 55,500 crore in 2003-04, reflecting a growth rate of about 20.4 per cent in rupee terms and 28 per cent in dollar terms, it said.
This was despite the global difficulties in the information, communication and technology (ICT) sector, it said.
In absolute terms, the production in IT and electronics industry increased to Rs 1,14,650 crore in 2003-04 from Rs 97,000 crore in the previous year.
The electronics and software exports including consumer electronics, industrial electronics, computers and software increased about 19 per cent to Rs 61,500 crore in 2003-04 from Rs 51,700 crore in 2002-03.
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