Indias software service export growth rate dips

NEW DELHI, INDIA: The Indian Software and Services export is estimated to grow at 5.5 per cent and to generate export revenue of US$ 49.7 billion in year 2009-10, as compared to the compounded annual growth rate of over 29 per cent of the last five years (FY 2004-05 to FY 2008-09).

The IT software and services exports from the country has grown from US$ 17.7 billion in 2004-05 to USS 47.7 billion in 2008-09. Compared to this the projected growth rate of 5.5 per cent shows a major dip in the growth rate.

In reply to a question in the Rajya Sabha today, Minister of State for Communications & Information Technology, Sachin Pilot said the main reason for dip in the growth rate is due to deep recession in North America, UK and European markets that account for more than 85 per cent of Indian software and services exports. However, with signs of global economic recovery, healthier growth rates are expected in 2010-11 and 2011-12, the minister added.

In reply to another question the minister said the Department of Information Technology (DIT) had set up a task force to suggest measures to stimulate the growth of IT, ITES and Electronics Hardware Manufacturing Industry in the country, in August 2009 and it has submitted its recommendations.

One of the recommendations made by the Task Force pertains to establishment of a ‘National Electronics Mission’ – a nodal agency for the electronics industry, within DIT, to help in the synchronized functioning of the industry for enhancing the ease of doing business, the minister added.

The recommendations of the Task Force are under examination by the Government.

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