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| Govt sets up task force to stimulate IT growth |
| Press Trust of India / New Delhi Aug 12, 2009, 20:36 IST |
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The government today said it has constituted a task force chaired by HCL Infosysytem CEO Ajai Chowdhury to suggest steps for stimulating growth in the IT, ITES and electronics hardware manufacturing industry.
The task force will recommend strategies to aid growth of the IT software and IT enabled services sector in the context of global developments, Communications and IT Minister A Raja said in an official statement.
Besides, it will also suggest steps to accelerate demand for electronics hardware products in the domestic market.
The software exports sector in the country, which gets over 50 per cent of its revenue from the US, was hit hard by the global slowdown.
According to estimates of IT industry body Nasscom, the export revenue in FY09-10 is expected to grow at 4-7 per cent to reach $48-50 billion, a far cry from the double digit growth figures posted in the previous years.
In FY08-09, export revenues for the Indian IT-BPO industry recorded growth of 16.3 per cent and clocked revenues of $46.3 billion.
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