Financial Daily from THE HINDU group of publications
Thursday, Jun 05, 2003
Financial Daily from THE HINDU group of publications Thursday, Jun 05, 2003 |
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Info-Tech
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IT-enabled Services Industry & Economy - Exports & Imports ITES exports up 44 pc: ESC Our Bureau
NEW DELHI: Exports of IT-enabled services (ITES) from India grew by 44 per cent in 2002-03 over the previous year to Rs 10,500 crore ($2.16 billion), according to provisional estimates by the Electronics and Computer Software Exports Promotion Council (ESC). ESC projects that ITES exports would grow by 50 per cent to touch $3.24 billion in the current financial year. By 2008, exports would fetch $15 billion. "Despite politicisation, outsourcing works related to call centres, backroom operations etc., will continue to grow since the corporations abroad, especially in the US, are aware of the advantages of outsourcing and positive spin-offs of such operations in shoring up profitability of the corporates," Mr D.K. Sareen, Executive Director of ESC, said in a statement here. He said exports of ITES accounted for over 20 per cent of the total IT exports in 2002-03. This share is expected to increase to 25 per cent by 2008. Exports of ITES have been growing exponentially over the past couple of years. Exports, which stood at Rs 4,295 crore in 2000-2001, surged to Rs 7,300 crore in 2001-02.
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