SOFTWARE EXPORTS TO CROSS $40 BILLION IN 2007-08: GOVT

New Delhi, July 28, 2008
Mint Financial Chronicle Deccan Herald

Department of Information Technology has projected over 28% rise (in dollar terms) in the total value of software and services exports in 2007-08.

In 2007-08, the software and services industry continues to show a robust growth and the total value of software and services exports are estimated at Rs 163,000 crore ($40.3 billion) compared to Rs 141,000 crore ($31.4 billion) in 2006-07, an increase of 15.6% in rupee terms and 28.3% in dollar terms, DIT said in its estimate.

The electronics and IT exports are estimated to be Rs 1,75,700 crore compared to Rs 1,53,500 crore in 2006-07, showing a growth of a 14.5%, it said.

Industry body Nasscom had announced earlier that the country’s software and services exports grew 29% in 2007-08 to cloak a revenue of $40.4 billion, up from $31.4 billion in the previous year.

The overall IT-BPO industry, including the domestic market, recorded a 28% growth to touch $52 billion revenue in 2007-08, Nasscom had said.

The IT industry body had said the software and services revenue is expected to grow between 21% and 24% in the current fiscal, with the export segment forecast to reach $50 billion.

Giving an indication of strong performance this fiscal country’s top four software exporters-- Tata Consultancy Service, Infosys, Wipro and Satyam --have posted good quarterly results although fears of delay in decision making by the top clients of these companies loomed large due the slowdown in the US economy.