The Hindu Business Line : Software industry targets $54 bn exports in FY'10

NEW DELHI: Slowdown hit, India's software exporters are exploring new markets in West Asia and Africa to increase IT exports by 10 per cent and touch $54 billion in the current fiscal.

IT software exports were valued at $49.5 billion in 2008-09, which was about 14 per cent more than that in 2007-08. “We are not expecting much growth in exports in 2009-10 due to the global slowdown,” Electronics and Computer Software Export Promotion Co uncil (ESC) Executive Director Mr D K Sareen said.

The ESC, however, has set a higher target for growth in electronics hardware exports, he added. The council has set a target to earn $4.5 billion from electronics hardware export in the current fiscal which is about 15 per cent more than the shipments o f $3.9 billion in 2008-09.

With most of the country's main markets like the US and EU reeling under the impact of demand slowdown, the ESC is encouraging the industry to explore West Asia, Latin America, South African region and Japan to increase exports.

India will be showcasing its strength in IT hardware, software and services and telecom sectors at GITEX, an IT exhibition in Dubai. India had exported electronics hardware and software worth $ 980 million to Middle East countries in 2007-08. - PTI

Prev: Railways to set up 1000 MW power plant in Nabinagar
Next: Financial Tech Q1nett up 166% at Rs 20.5 cr

Business Line | NUS Index |

Copyright copy; 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line