India's software exports reach $31.3 bn, up 32%

India's software and services export is estimated to have grown at a robust 32 per cent to $31.3 billion or Rs 1.41 lakh crore (Rs 1.41 trillion) for 2006-07, as per the official figures of Department of Information Technology.

During 2006-07, electronics and IT exports are estimated to be Rs 1,53,300 crore (Rs 1,533 billion), compared to Rs 1,13,725 crore (Rs 1,137.25 billion) in FY05-06, a growth of about 35 per cent.

The software and services sector continues to show a robust growth and the total value of industry export is estimated at Rs 1,41,800 crore ($31.3 billion) in FY06-07, compared to Rs 1,04,100 crore ($23.6 billion) in FY05-06, an increase of over 32 per cent in dollar terms and 36 per cent in rupee terms, DIT said in its estimate for the referred
year.

IT association Nasscom has already announced its findings for 2006-07 according to which Indian IT software and services Revenues will reach USD 50 billion mark in FY 07-08.

The industry recorded a revenue of $39.6 billion in FY 2006-07; exceeding earlier forecast of 27 per cent to register a growth of 30.7 per cent.

Industry revenues projected to grow at 24-27 per cent in FY 2007-08.

The software and services exports segment grew by 33 per cent to register revenues of $31.4 billion in FY 2006-07 up from $23.6 billion in FY 2005-06. The domestic segment grew by 23 per cent to register revenues of $8.2 billion in FY 2006-07 up from $6.7 million, said Nasscom.

Within the export segment, IT services exports have grown by 35.5 per cent to clock revenues of $18 billion; while ITeS-BPO exports up by 33.5 per cent to clock revenues of $8.4 billion.

Engineering services and products exports clocked revenues of $4.9 billion, growing at 23 per cent in FY 2006-07, said Nasscom.