The Hindu Business Line : Software, services export to double by 2009: Assocham

INDIA will be well poised to capture six per cent share of the global market in IT services and software by 2008-09 as against its present share of three per cent, according to a study on `India's cutting edge in services' conducted by the Associated Chambers of Commerce and Industry of India (Assocham).

Besides, India will occupy a leading position in providing services to developed economies such as EU and others by 2020 as by then it is estimated that the country will have a surplus of 47 million professionals in IT and services who can be gainfully used by recipient countries, highlights the study.

Releasing the study, the President of Assocham, Mr Mahendra K. Sanghi, pointed out that with the increase in the offshore penetration and present annual growth rate of 30 per cent in the IT and IT-enabled services exports, total exports will exceed $50 billion by 2008-09.

The Assocham is of the view that in the next few years, the annual growth rate of IT and services will be over 45 per cent. Mr Sanghi said the software and services exports reached $17.2 billion for 2004-05 and the annual growth rate is well over 30 per cent.

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