Software exports from Bangalore to touch $6B in 2005

By siliconindia staff writer   |   Monday, 31 January 2005, 08:00 Hrs
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BANGALORE: Software exports from IndiaÂ’s Silicon Valley Bangalore will reach six billion dollars by the end of 2005. IT officials said that the sector would achieve 35 percent growth in 2004-05 and added that the total exports were expected to touch 5.3 billion dollars in the current year.

"We had an export of 4.02 billion dollars for the year 2003-04. This year the growth will be about 35 percent. We are going to touch 5.3 billion dollars this year.Â’

They said that about 160 fresh IT companies have come up in Bangalore, taking the total number of companies to 1500.

India's software service industry and the Business Process Outsourcing (BPO) sector have been growing aggressively. With more than 18,000 software professionals and 60,000 BPO employees, the city is a major investment destination for the IT industry.

The boom in call centres, human resource management services, medical transcription centres and other services have led to more multinationals setting up shop in Bangalore.

With 45 percent share of country's software exports, Bangalore is capitalising on the opportunity and expects a growth rate of 45 to 50 percent. According to National Association of Software Service Companies (NASSCOM) India's software and allied exports would zoom to 57 billion dollars by 2008.

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