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.