Nasscom sticks to projections

Nasscom will not revise its estimates for software exports in the current fiscal despite the strong growth that the industry displayed in the last quarter.

Nasscom has already predicted a 30-32 per cent increase in the Indian software exports which are expected to touch $16.5 billion in the current fiscal.

During the year ended March 31, 2004, Indian software exports grew by 30.5 per cent to touch nearly $12.5 billion. However, the Indian software and services market (domestic plus exports) at $15.6 billion, constituted only about three per cent of the world software market.

"We stick to our growth projections made at the beginning of the year. There is no upward or downward revision. Overall we are comfortable with the projections. The 30-32 per cent projections itself is bullish. The world economic situation has picked up, but it is not rosy," Kiran Karnik, president, Nasscom, said.

Karnik was speaking to reporters on the sidelines of the Indo-Swedish business meet to explore possibilities of business collaboration in the areas of IT and telecom in Bangalore on Wednesday.

Speaking on Nasscom's assessment of the US Presidential elections and their impact on software exports from India, Karnik said, "Our assessment is that it is not going to make too much of a change. There would be some nuances. There may be some legal issues that may come up, depending on who wins."

Earlier, addressing delegates of the meet, Karnik called for more partnerships between India and Sweden.

"While partnerships with Indian companies can go a long way, Swedish companies must also look at the new wave of partnerships that is emerging on the R&D front. Companies are tying up with Indian partners in order to conduct some of the most advanced research in India. We urge you to explore this possibility."

"There can be collaborations between Indian and Swedish companies on 4G technology, where development work can take place together. Sweden can be used as the test market, followed by rest of Europe. There are also a number of opportunities in applications development as this is just beginning to open up," Karnik added.

According to Lars-Olof Lindgren, director general of international trade, ministry of foreign affairs, Sweden, "During our visit here, we have realised that IT in India means much more than BPO and call centre. We have also seen ways in which we can work together."