According to the annual industry survey released by Nasscom - National Association of
Software and Service companies, the software industry in India grossed an annual revenue
of Rs.15,890 crore during 1998-99, with exports growing to Rs.10,940 crore registering a
growth rate of 68% over previous years performance. The industry registered an overall
growth of 58% during 1998-99, up from Rs.10,040 crore in 1997-98.
President of Nasscom - Dewang Mehta said "more than 203 Fortune 1000 companies
outsourced their software requirements to India. India has been exporting to 86 countries
worldwide, 61% of the total exports were for North America followed by Europe at 23%.
In 1998-99, 20 software companies exported more than Rs.100 crore software; more than 70
companies exported more than Rs.50 crore software and 131 companies exported more than
Rs.
10 crore software.
Domestic market grew over the previous year with over 122 new software products and
upgrades launched by Indian companies in the domestic market, while overseas companies
launched 158 of them.
Losses due to software piracy piled upto Rs. 800 crore. At the same time, more than 203 of
the fortune 1000 companies outsourced their software requirements to India, which clearly
indicates that more global companies are outsourcing their software requirements to India.
The solutions for Y2K revenues generated business worth $560 million and accounted for 20
% of exports. The Indian industry is now focussing on greater opportunities beyond Y2K,
including upcoming segments of e-commerce, Euro and the wide-ranging gamut of IT enabled
services.
While the top 25 exporters accounted for 63.23% share of the software exports revenue in
1998-99, Tata Consultancy Services emerged as the number one exporting company in terms of
revenue, followed by Wipro Infotech, Pentafour Software, Infosys Technologies, NIIT
Limited, and the rest.
With this pace of business and continued government support, software exports during
1999-2000 will continue to grow at more than 50%. By year 2008, more than 10 lakh
additional jobs can be created in this sector, generating an annual income of Rs.81000
crore.
Software exports grow in 98-99
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