The Hindu Business Line : `Foreign funding in IT, telecom set to double'

Mr Shiv Nadar (left), Founder, HCL Technologies, with Mr Dayanidhi Maran, Minister for Communications and Information Technology, at the `HCL Global Customer Meet' in the Capital on Wednesday. - - Kamal Narang

New Delhi , Feb. 8

FOREIGN investment in the IT and telecom sector is expected to double in 2006, on the back of recent policy measures and the buoyant industry, Communications and IT Minister, Mr Dayanidhi Maran said on Wednesday.

Mr Maran, who inaugurated the Global Customer Meet organised by HCL, said software exports for 2005-06 is expected to rise 30 per cent.

"Software and ITES exports for 2004-05 was around $17 billion, up from $12.8 billion for 2003-04, an increase of around 34 per cent in dollar terms. Export revenues from ITES-BPO were in excess of $5 billion in 2004-05 as against $3.6 billion in 2003-04," he added.

Mr Maran further said that the government was working out a human resource development programme to update the skill-set requirements of various verticals in the ITES-BPO sector including insurance, banking services, tourism and pharmaceuticals.

"The government also proposes to set up one lakh community service centres in rural areas under the National e-Governance programme with the involvement of private sector," said the Minister.

HCL organised the meet to showcase IT application in segments such as life sciences and healthcare, telecom, financial services, retail and remote infrastructure. Nearly 200 Chief Information Officers (CIOs) from Fortune 500 companies attended.

"The meet enables customers to explore the benefits of leveraging IT outsourcing for business leadership. For us, this is a great platform to exhibit our capabilities and service offerings across our five lines of business — R&D and technology, custom application, package implementation, IT infrastructure management and business process outsourcing," HCL Technologies President, Mr Vineet Nayar said.

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