Double milestone for Indian IT sector

By agencies   |   Tuesday, 03 May 2005, 19:30 IST
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CHENNAI:The revenue of Indian IT industry crossed $17 billion in 2004-05 and the software and services sector alone provided direct employment to over one million people, President of Nasscom Kiran Karnik said Tuesday. "Two landmarks were achieved in 2004-05. The revenue of hardware, software and services crossed $17 billion and direct employment by the software and services alone crossed one million during the last fiscal," he said here. Karnik said that IT sector had seen growth not only in exports but it was increasingly used in the domestic market to enhance customer services and competitiveness. He said that the development of physical infrastructure in quick time was a major challenge. "Today, IT industry faces one constraint -- infrastructure. We are not able to move the people quickly and the sector also needs more backup power," he said. Referring to setting up of IT parks in record time, he said that infrastructure development should also be taken up on a war footing. "It is something on which we should collectively work to accelerate the developmental works."