IT, ITeS exports likely to clock 8-10 percent growth during FY-19
Export of electronic hardware may witness positive growth at about seven to eight per cent on the back of newer avenues such as Solar power electronics, UPS systems and electronic energy meters, said an expert from Electronics and Computer Software Export Promotion Council ESC a body under the Department of Commerce
Hyderabad: Export of electronic hardware may witness positive growth at about seven to eight per cent on the back of newer avenues such as Solar power electronics, UPS systems and electronic energy meters, said an expert from Electronics and Computer Software Export Promotion Council (ESC) a body under the Department of Commerce.
Executive Director of ESC, D K Sareen also said, “Indian IT and ITeS exports may clock 8 to 10 per cent growth during the current fiscal. 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)." In February last year, industry body Nasscom had projected that Indian IT exports may grow at seven to eight per cent during the current fiscal at $137 billion against $126 in FY18.
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 Nokia 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 Nokia for cell phone manufacturing plant was shut down. But we are seeing new areas especially solar power electronics, UPS systems electronic energy meters. These are the new upcoming items to be exported from India," he said. Hoping that electronic hardware 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 India from China.
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, Chairman 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.