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N.America accounts for over 60% of software exports
By agencies
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Monday, 20 June 2005, 19:30 IST
NEW DELHI: The North American market (mainly U.S. and Canada) accounted for 61.10 percent of India's total exports of software services and IT-enabled services (ITeS) in 2004-05, according to the provisional data provided by Electronics and Computer Software Export Promotion Council (ESC).
During 2003-04, North America's share in the export basket had stood at 61.68 percent.
"Our effort is to further bring down the dependence on the North American market for software export and to spread it widely to other destinations including newer markets. The very fact that we could reduce the dependence on the U.S. market over the years from 98 percent to a more reasonable figure of about 60 percent is a good achievement. But the effort would be to peg the North American market to somewhere in the vicinity of 50 percent in the long run, without in any way affecting our lead position in the growing U.S. market," D.K. Sareen, Executive Director, ESC, said in a statement here.
According to ESC, the value of exports to the North American market grew from Rs 357.77 billion in 2003-04 to Rs 472.1 billion in 04-05, translating into a growth of 32 percent.
EU countries occupied the second slot in the overall software and ITeS export from the country. "The market share has grown up to 26.86 percent in 2004-05 from 25.09 percent registered in 2003-04. In absolute terms, software & ITES export stood at Rs 207.63 billion in 2004-05 as against Rs 145.50 billion in 2003-04," he said.
The third largest destination for software and IT export was Japan, Korea and other Far East nations. In absolute terms, export to these destinations marginally declined in 2004-05 to Rs 30.92 billion from Rs 31.10 billion earlier. Next came Singapore, Hong Kong and other countries.