IT services exports rev up 29.4% in 2002-3: Nasscom

By siliconindia   |   Thursday, 07 August 2003, 19:30 IST
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Indian IT industry's export revenues from product and technology services registered a 29.4 per cent growth at Rs 6,600 crore in 2002-03 compared to Rs 5,100 crore in 2001-02, according to Nasscom.

NEW DELHI: "The Indian software and service companies are acknowledging the clarion call and are evolving a pragmatic roadmap in the product space. The Indian IT industry export revenues from product and technology services have grown from Rs 5,100 crore ($1.08 billion) in 2001-02 to Rs 6,600 crore (1.40 billion dollars) in 2002-03," Nasscom President Kiran Karnik said here. Karnik said Nasscom-McKinsey study had estimated that the product and technology services would grow to $8-11 billion by 2008. He, however, declined to give specific growth figures for product and technology services space during the current financial year but said "it would be roughly the same growth as last year."