Financial Daily from THE HINDU group of publications
Monday, Jun 20, 2005
Financial Daily from THE HINDU group of publications Monday, Jun 20, 2005 |
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Info-Tech
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Software Industry & Economy - Exports & Imports `N. America accounts for over 60 pc of exports' Our Bureau
New Delhi , June 19 THE North American market (mainly US and Canada) accounted for 61.10 per cent of India's total exports of software services and IT-enabled services (ITES) in 2004-05, according to the provisional data provided by Electronics and Computer Software Export Promotion Council (ESC). During 2003-04, North America's share in the export basket had stood at 61.68 per cent. "Our effort is to further bring down the dependence on the North American market for software export and to spread it widely to other destinations including newer markets. The very fact that we could reduce the dependence on the US market over the years from 98 per cent to a more reasonable figure of about 60 per cent is a good achievement. But the effort would be to peg the North American market to somewhere in the vicinity of 50 per cent in the long run, without in any way affecting our lead position in the growing US market," Mr D.K. Sareen, Executive Director, ESC, said in a statement here. According to ESC, the value of exports to the North American market grew from Rs 35,777 crore in 2003-04 to Rs 47,231 crore in 2004-05, translating into a growth of 32 per cent. EU countries occupied the second slot in the overall software and ITES export from the country. "The market share has grown up to 26.86 per cent in 2004-05 from 25.09 per cent registered in 2003-04. In absolute terms, software & ITES export stood at Rs 20,763 crore in 2004-05 as against Rs 14,550 crore in 2003-04," he said. The third largest destination for software and IT export was Japan, Korea and other Far East nations. In absolute terms, export to these destinations marginally declined in 2004-05 to Rs 3,092 crore from Rs 3,110 crore earlier. Next came Singapore, Hong Kong and other countries.
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