IT exports to EU registers high growth

By agencies   |   Tuesday, 22 March 2005, 08:00 Hrs
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CHENNAI: IT exports to European Union countries have recorded a remarkable growth of 37.19 percent though North America continued to be the top destination.

"In value terms, export of hardware and software and services to European Union countries had registered a growth of 37.19 percent for 2003-04 and retained the second position with a share of 25.19 percent in the total exports," a statistical year book of Electronics and Computer Software Export Promotion Council revealed.

The total IT exports to this region increased to $4.12 billion (16, 552 crore) for 2003-04 from $3.12 billion (12, 065 crore) in 2002-03.

The share of this region in total exports has increased to 25.19 percent from 23.16 percent in 2002-03. In the total exports, electronics hardware accounted for a value of $455 million (2003 crore) and software and services for $3.8 billion (14, 550 crore).

However, North America, comprising USA and Canada, with a share of 57.26 percent and for a total value of $14 billion (37, 623 crore) for 2003-04 remained the top destination for export of electronics and computer software and services. But there was a decline in the share of exports by 3.72 percent.

Singapore, Hong Kong and other south Asian countries maintained their third position with a share of 5.75 percent for a total value of $857 million (3775 crore) for 2003-04.

Korea and other Far East Asian countries occupied the fourth position with a share of 5.56 percent and total exports to this region stood at $829 million (3651 crore).

USA and UK remained the top two destinations for India’s IT exports. Japan acquired the third position with a growth of 52.45 percent in value terms.

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