Berlin: India’s IT, software and electronics companies are upbeat about prospects for growth of exports in the coming years, with industry leaders saying vast opportunities were opening up in new markets in the Middle East, Africa, South and Southeast Asia and Eastern Europe.
India’s supremacy in the IT and software sector and its growing reputation as one of the world’s best outsourcing destinations have created a good basis for further expanding and diversifying exports, according to participants in a major export promotion drive by the industry at the just-concluded IT and computer fair CeBIT at Hannover in Germany.
Under the auspices of the Electronics and Computer Software Export Promotion Council (ESC), about 30 companies mounted an impressive show on the latest India has to offer in the areas of computer software and services, IT, electronics hardware and telecommunication equipments.
About ten other companies and three state government agencies joined the promotion campaign by presenting their products as individual exhibitors.
The executive director of the ESC, D. K. Sareen, told PTI that India’s promotion efforts had shown that the marketing potential for computer software, IT and electronic products in the two major markets of North America and the European Union have not been fully exploited.
Vast opportunities were also opening up in new markets in the Middle East, Africa, South and Southeast Asia and Eastern Europe, he said.
Export business inquiries worth several million dollars have been generated by India’s promotion campaign at the CeBIT, the world’s largest computer and IT fair, according to ESC.
Visitors’ interests covered a wide area of software production and IT-enabled services including BPO, legal process outsourcing, system management and maintenance, consultancy services, e-governance, e-commerce, banking, financial and insurance services and e-publishing.
Sareen said ESC plans to mount a bigger show in Hannover next year. In the meantime, efforts will be made to step up India’s software and IT enabled services’ exports to Germany by organising buyer-seller meets, exchanging IT delegations and fostering contacts with trade organisations.
A memorandum of understanding signed between the ESC and the Hannover IT during the CeBIT was a step in this direction, he said.
N. Radhakrishnan Nair, CEO of the Technopark in Thiruvananthapuram, one of the largest IT parks in India, said the country’s success in IT and computer software sector had been so remarkable that many other nations are now trying to copy it. “India is becoming a world hub of brainpower activities and this holds great potential for growth in the coming years.”
India’s exports of computer software, IT services and electronics products are projected to grow by around 30% during the current financial year to $32 billion, according to ESC.
Computer software and IT enabled services continued to account for the largest share during 2005-2006 and their exports rose to $23.76 billion.