Software exports may grow 33 percent in FY08
By
siliconindia news bureau
Hyderabad: An estimate by the Electronics and Computer Software Export Promotion Council (ESC) says that software exports are expected to post a growth of 33 percent in terms of dollar and 23 percent in terms of rupee in the current financial year. In absolute terms, exports during FY08 will workout to $45 billion (Rs 180,000 crore).
"Though IT export growth is significant, it has fallen short of the proposed target set by ESC for the year 2007-08 at 39 percent in dollars and 36 percent in rupees. These growth targets had been set considering past growth trends and confidence levels of software exporters last year," Sanjiv Narayan, chairman, ESC, said today.
The rupee appreciation for the last 16 months had adversely impacted the rupee realization from exports, he said, adding, "Our data compiled from various IT exporters indicate that the fall in rupee realization from exports was to the extent of 12 to 15 percent. This has taken place at a time when real estate prices (rentals and property prices) are skyrocketing and HR expenses - salaries and perks - have increased considerably. Such increases are felt even in tier II and III cities."
ESC Executive Director D K Sareen says that the need for hedging against currencies and invoicing exports in currencies other than the dollar has been advised to the council's member exporters.
Laying emphasis on beefing up the hardware electronics sector, he said the country could emerge as a hub for repairing electronic gadgets and gizmos such as mobile phones, digital cameras and digital medical equipment.
"Though IT export growth is significant, it has fallen short of the proposed target set by ESC for the year 2007-08 at 39 percent in dollars and 36 percent in rupees. These growth targets had been set considering past growth trends and confidence levels of software exporters last year," Sanjiv Narayan, chairman, ESC, said today.
The rupee appreciation for the last 16 months had adversely impacted the rupee realization from exports, he said, adding, "Our data compiled from various IT exporters indicate that the fall in rupee realization from exports was to the extent of 12 to 15 percent. This has taken place at a time when real estate prices (rentals and property prices) are skyrocketing and HR expenses - salaries and perks - have increased considerably. Such increases are felt even in tier II and III cities."
ESC Executive Director D K Sareen says that the need for hedging against currencies and invoicing exports in currencies other than the dollar has been advised to the council's member exporters.
Laying emphasis on beefing up the hardware electronics sector, he said the country could emerge as a hub for repairing electronic gadgets and gizmos such as mobile phones, digital cameras and digital medical equipment.
- Indian utility will buy 150,000 water meters
- IBM unveils new POWER7 systems
- CA extends support for Open Source
- Now pay credit card dues as a loan
- MBAs line up for jobs in healthcare
- Yes Bank to deploy Servion's IVR
- Sony to unveil in-box wireless technology
- GPS based application struggling to expand
- Hindustan Copper shares rise 10 percent
- AB Minacs buys tech solutions firm Radifinity
- Auto driver turns web entrepreneur
- Students make electric appliances operable via sms
- Change management: BSNL employees to PM
- An IITian lights 10,000 homes in rural Bihar
- Indian entrepreneurs sign deals like housewives
- Indians are over committed, reluctant to differ
- China 5th, India nowhere in top 15 UN patent filings
- Biggies back with bonuses, startups suffer
- Over 15,000 NRI resumes lying with Indian HR firms
- Obama's invitation to 'Bihar's Rickshaw Man'





