India's IT exports to Europe surge 27% in 2004-05: ESC

By agencies   |   Thursday, 18 August 2005, 07:00 Hrs
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NEW DELHI: India's IT exports to Europe surged by 27.09 percent to touch $5.3 billion in 2004-05, according to Electronics and Computer Software Export Promotion Council.

"India's electronics and IT exports to Europe are on a rise. In 2004-05, India's IT exports to Europe were 27.09 percent higher than the previous year," ESC executive director D K Sareen said.

According to CeBit Events Managing Director Joerg Schomburg, Europe's demand for outsourcing in IT and communication technologies would touch $174.63 billion by 2006. It has an anticipated growth rate of 21.5 percent.

A bulk of the demand would originate from Germany. Europe would witness an outsourcing boom in the coming years, he added.

The worldwide ICT market is likely to grow by 4.8 percent in 2006. An analysis into the World Wide ICT market reveals that 19 percent of the turnover was accounted by IT services and software products accounted for 10 percent. Carrier services accounted for the maximum at 44 percent.

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