The Hindu Business Line : Hyderabad STPI exports top $1 b

"During the first nine months ended December 2004, as per preliminary estimates, software exports, including IT-enabled services, have crossed Rs 4,600 crore. Going by the current trends, we would possibly end the year close to Rs 6,800-7,000 crore," a senior official said.

"The market continues to be buoyant. If the expansion plans of some of the major companies — TCS, Satyam, Wipro, Infosys — and MNCs, such as Oracle and Microsoft, are any indication, we are on course to achieving the projected growth of 35-40 per cent this year," the official told Business Line.

The STPI-H had registered significant growth in 2003-04, fuelled mainly by the ITES sector, and for the first time crossed the $1-billion mark. It had registered overall exports of Rs 5,025 crore, which includes ITES exports.

This was fuelled by rapid expansion of large MNCs — GE Capital, HSBC Data Processing — and the line-up of many new companies.

Though the US and Canada accounted for about 63 per cent of India's software exports, the UK, the Netherlands, and other European countries, Japan Australia, and West Asia were becoming significant destinations. Last year, Europe accounted for about 23 per cent, up from 17 per cent the previous year.

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