Indian software exports way ahead of target levels

Published November 1st, 2000 - 02:00 GMT

India's software exports totaled $2.86 billion for the first six months to September and will far exceed a $50 billion target set for 2008, a top industry official said Wednesday. 

 

Dewang Mehta, president of the National Association of Software and Service Companies (NASSCOM) said software exports for the entire fiscal year ending March 2001 were expected to total $6.3 billion. 

 

The estimate compared to a 1999-2000 export total of four billion dollars. 

 

India had targeted software exports of $50 billion by 2008 and "we will achieve that much before," Mehta told delegates at an international "IT.com" conference in the southern city of Bangalore. 

 

"For the IT industry as a whole we will achieve $87 billion in revenues by 2008," Mehta said. 

 

The Indian software industry earned a total of $2.5 billion between 1996 and 1999 by providing software solutions to fix the millennium bug. 

 

NASSCOM said 62 percent of software exports in the year to March 2000 were to the United States and Canada, and 23.5 percent to Europe.— (AFP)  

 

© Agence France Presse 2000  

 

© 2000 Mena Report (www.menareport.com)

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