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Indian IT and ITeS exports may witness 8 to 10 percent growth

Press Trust of India  |  Hyderabad 

Indian IT and ITeS exports may clock 8 to 10 per cent growth during the current fiscal a senior of Electronics and Computer Software Export Promotion Council (ESC), a body under the Department of Commerce said here Tuesday.

of ESC, D K Sareen also said the export of may also witness positive growth at about seven to eight per cent on the back of newer avenues such as Solar power electronics, systems and electronic energy meters.

"These numbers (IT and ITeS exports) are difficult to obtain unless and until we have the full figures from RBI.

But we are seeing that the first two to three quarters are certainly performed up to the expectations.

So overall who look at the growth of growth of about 8 to 10 per cent (this year)," the ESC on the sidelines of a programme.

In February last year, industry body had projected that Indian IT exports may grow at seven to eight per cent during the current fiscal at USD 137 billion against USD 126 in FY 18.

Replying to a query on hardware and electronic component exports, Sareen said there was a negative growth during the last three years on account of various factors including the shutdown of manufacturing facility in Chennai.

"I think we are looking at growth of about 7 to 8 per cent in the hardware given the fact that in the last two to three years the hardware Exports declined.

Very large capacity built by companies like for was shut down.

But we are seeing new areas specially solar power electronics, systems These are the new upcoming items to be exported from India," he said.

Hoping that exports are on the upward trend, he said there were indications that some of the key manufacturers were keen to relocate their manufacturing faculties to from

Meanwhile, the 19th edition of Indiasoft, international exhibition and conferences, a flagship IT event of the ESC to be held here on February 4 and 5, of Organising Committee of the event, Nalin Kohli said.

The event would bring over 500 foreign ICT buyers from 60 countries.

Close to 250 Indian IT firms and over 20 foreign IT companies of various hues and sizes would display their products and solutions to the discerning buyers, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 16:20 IST