Indian IT exports to cross $60 B in 2010

Wednesday, 21 February 2007, 06:00 Hrs
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New Delhi: According to a study by Nasscom, Indian software and information technology enabled services (ITES) exports will double to $60 billion by 2010.

According to the study, exports by the IT-ITES industry would cross $31 billion in the current calendar year and top $60 billion in 2010, by which time the jobs created by the industry would jump from around eight million to 11.5 million.

"Nearly three-fourths of the workforce employed by service providers (catering, housekeeping, security and transport) is senior secondary or higher secondary educated, or sometimes practically uneducated," the report says.

"It thus generates employment for less educated workforce," adds the study conducted by CRISIL, India's leading company for ratings, research, risk and policy advisory.

"With significant head-room for growth, the IT-ITES sector holds the potential to influence a much deeper impact on the Indian economy through additional investments and derived gains," it adds.

"The survey has taken a detailed cross-sectional view of the multiplier effects on income generation and job creation that have been induced by the Indian IT-ITES sector," says Nasscom president Kiran Karnik.

"The analysis has also been extended to assess the impact of two key concerns, continued wage inflation and the removal of the STP benefits, on the sector's medium term performance," he told journalists at a press conference here.

Ramalinga Raju, founder of Satyam Computer Services and Nasscom chairperson, says the revenue aggregate of the IT-ITES industry grew nearly tenfold in the past decade.

"But the role of this sector in influencing wider economic development, although increasingly visible, has been relatively less explored in any of the existing analyses. This study has sought to analyse and document this impact."
Source: IANS
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