Q1 software export touches Rs 8,600 cr: Nasscom

NEW DELHI: The National Association of Software and Services Companies (Nasscom)

has announced the results of its survey on the performance of Indian software

and services exports for the first quarter of the financial year 2001-02.

The survey revealed that the IT software and services exports during Q1 2001,

generated revenues worth Rs 8,600 crore against Rs 5,670 crore for the

corresponding period last year. Nasscom has also announced that it would open

its offices in four zones of the country by the end of this year and in Europe,

Asia- Pacific and US by the end of 2002.

In terms of exports growth, the industry grew at 52 percent in the first

quarter of 2001 as against a growth rate of 65 per cent witnessed in the first

quarter of 2000. Despite the IT slowdown, the IT software and service export

revenue for the first quarter has increased from 20 per cent in 2000-01 to 21.5

percent in 2001-02.

Nasscom also projected the estimated growth rate of 9 per cent for the second

quarter. The Q2 revenue would be approximately 23.5 percent of the total

software export revenue.

Speaking on the occasion, Nasscom chairman Phiroz Vandrevala said, "The

Q1 2001 results clearly indicate that the situation is not as gloomy as it is

painted. Nasscom had projected export revenues of Rs 40,000 crore for the

financial year 2001-02 and we are confident that the target will be met,"

he said.

Software exports of Rs 40,000 crore in year 2001-02 representing 41 per cent

growth over last year's software and service export revenues which was Rs 28,350

crore. Vandrevala also announced the three new appointments including Kiran

Karnik as the president, Som Mittal as vice-chairman and Sangeeta Gupta, as

vice-president of Nasscom.