Posts
India exports software and services is estimated to grow 10 percent this fiscal year, a sharp reduction in forecast growth of 30 percent before the 2008 recession, according to a senior official of the Electronics and Computer Software Export Promotion (CES).
"The U.S., along with Europe accounts for more than 90 percent of total software and services exports. There is a general slowdown in America and Europe after the recession. This has an impact on exports" said President of the ESC, S. Radhakrishnan.
However, he downplayed the degradation Radhakrishnan recent U.S. credit rating saying he would have no impact on Indian IT industry.
According to the information and communications trade body NASSCOM, the global economic environment is a concern for the sector. However, he believed there would be no impact on the industry in the near future.
"Before the recession of 2008-09, which estimated a 30 percent growth in exports of software and services. However, the estimated growth for this fiscal year is 10 percent, which is achievable" said Executive Director DK Sareen CES.
Exports of software and services will reach $ 64 billion at the end of this fiscal year, registering a growth of 10 percent in the last year. Electronics and hardware exports grow by 30 percent to reach $ 10 billion. In general ICT exports is estimated to clock $ 75 billion versus $ 65.28 billion in 2010-11.
Radhakrishnan said that in April-July period, exports of ICT was $ 21 billion, 10 percent of $ 19 million last year. Exports of electronics hardware in the first four months grew 48 percent to $ 3.72 billion in the same period last year.
Read more here
"The U.S., along with Europe accounts for more than 90 percent of total software and services exports. There is a general slowdown in America and Europe after the recession. This has an impact on exports" said President of the ESC, S. Radhakrishnan.
However, he downplayed the degradation Radhakrishnan recent U.S. credit rating saying he would have no impact on Indian IT industry.
According to the information and communications trade body NASSCOM, the global economic environment is a concern for the sector. However, he believed there would be no impact on the industry in the near future.
"Before the recession of 2008-09, which estimated a 30 percent growth in exports of software and services. However, the estimated growth for this fiscal year is 10 percent, which is achievable" said Executive Director DK Sareen CES.
Exports of software and services will reach $ 64 billion at the end of this fiscal year, registering a growth of 10 percent in the last year. Electronics and hardware exports grow by 30 percent to reach $ 10 billion. In general ICT exports is estimated to clock $ 75 billion versus $ 65.28 billion in 2010-11.
Radhakrishnan said that in April-July period, exports of ICT was $ 21 billion, 10 percent of $ 19 million last year. Exports of electronics hardware in the first four months grew 48 percent to $ 3.72 billion in the same period last year.
Read more here
0 comments:
Post a Comment