Andhra registers 48 percent growth in IT exports
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Andhra registers 48 percent growth in IT exports

Tuesday, 29 May 2007, 07:00 Hrs
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Hyderabad: Andhra Pradesh has recorded 48 percent growth in IT exports in 2006-07, up to 185.82 billion ($4.5 billion) from 125.21 billion the year before.

However, IT exports from the state, mainly Hyderabad, were slightly short of the target of 190 billion.

Of the total exports, IT services accounted for 44 percent, ITES/BPO 33 percent and enterprise applications and others 23 percent.

The state, whose share in overall IT exports from the state has gone up to 14 percent, has set a target of 250 billion during the current fiscal. It is also expected to increase its share in overall exports to 18 percent this year.

"We expect a growth of 35 to 40 percent during the current year," said E. Manoj Kumar, director, Software Technology Parks of India, Hyderabad, while releasing the IT export performance report at a news conference on Tuesday.

The state, which stands fourth in terms of IT exports after Karnataka, Maharashtra and Tamil Nadu, is witnessing robust growth with three to four companies setting up shop every week.

According to Manoj Kumar, 174 new companies were registered during 2005-06 with the total projected investment of 19 billion and the capacity to generate 187,450 new jobs. Besides, 185 existing companies had also expanded their operations.

Five companies recorded exports more than 10 billion while three companies were in the 5-10 billion bracket.

United States and Canada continued to be the major market for the state with 68 percent exports while Europe accounted for 18 percent, Asia Pacific and Middle East three percent, Manoj Kumar said
Source: IANS
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