India’s tech-related exports could have recorded a 14.54% surge to USD$64.67 billion for the 12 months ended March 31, according toGulfNews.com, citing the country’s Electronics and Computer Software Export Promotion Council (ESC). An additional 15-20% growth is expected in the present financial year.
Kamal Vachani, regional director of ESC, was quoted saying the focus, in the coming years, particularly in 2011, is the Gulf Cooperation Countries (GCC) as more and more companies are setting up and the IT businesses grows.
India’s tech exports to the UAE during 2009-10 were valued at $762.63 million, and accounted for 35.45% of the total to the Middle East. It also represented 1.35% of the overall IT exports from India.
Electronic hardware exports were expected to register a 39.37% increase in the last financial year to $7.61 billion from $5.46 billion.
Software shipments, services and IT enabled services are expected to register 11.88% rise to $57.06 billion from $51 billion last year.
As far as exports go, the Middle East was India’s fourth best end-user market for tech-related services during 2009-10, while North America remained on top.
The EU’s share of Indian tech imports was $17.17 billion in 2009-10, while, despite a slight decline, Singapore, Hong Kong and other South Asian countries remained the third top destination.
India’s electronics hardware exports to the UAE was $448.09 million during 2009-10, making up 20.83% of the total exports to the Middle East. Software exports came to $314.54 million, accounting for 14.62% of the total.
Computer hardware exports to the region during the same period were $56.07 million.
ESC, which has over 3,000 members, is an entity set up by India’s IT ministry.
Meanwhile, this year could be a pivotal one for hiring and job movements in the country’s tech industry and the best since 2007. The industry will see around 225,000 engineering graduates entering the job market and hiring requirements going up substantially by 70-80%.
All of this would create a $71.7 billion IT market by the end of this year, according to Deloitte, the consulting firm.
The trend will be helped by improving market visibility, increased spending by global customers step up spending and project pipelines running full.
Revenues from the IT and the business process outsourcing industry will reach $71.7 billion and account for 5.8% of India’s GDP this year, Deloitte reported said in its Technology, Media and Telecommunications Predictions for 2011 report.
The total number of employees working in the sector will grow to 223,000 this year, which translates into an addition of 226,000 personnel, it said.
The Deloitte prediction follows a spate of announcements by majors like Infosys and TCS, among others, of stepping up recruitment in the current season as the global economy gets into a recovery mode.
Deloitte expects a higher growth in revenues from European and Asian markets. It also added that the under-penetrated SME space will emerge as a “significant opportunity” in 2011.
Of the total, up to $60 billion will come from the core software and services vertical, while exports from this segment will grow up to 17% to $47 billion, the report said.
According to Mumbai-based Empowered Learning Systems, fresh graduates will account for 70-80% of the hiring this year, while multinationals will drive the lateral hiring sector with an annual mandate of 15,000 to 20,000 people each. – Source: GulfNews.com
