IT's really good: Survey
Chennai, May 10 (UNI) Tamil Nadu registered an impressive performance in the Information Technology (IT) sector by increasing its revenue and overseas billing by 20 per cent and 20-30 per cent respectively.
"The export performance of textiles, which grew by 25-30 per cent and auto component industry will continue to boost industrial growth," says the findings of the Business Outlook Survey conducted by the Confederation of Indian Industry (CII)-Southern Region which also dubbed the IT sector's feat as impressive.
CII carried out the survey to analyse the performance of the top five sectors of the Southern Region States during October 2005-March 2006 and give an outlook for the first six months of the fiscal year 2006-07 identifying issues and concerns.
The key sectors as per the contribution to the GSDP, which stood at an impressive Rs 1,88,921 crore during 2004-2005, identified in Tamil Nadu were Automotive and Auto Components, Information Technology, Textile Industry, Cement Industry and Chemical&Fertilizer Industry.
The IT industry recorded impressive performance during the last half of the fiscal 2005-2006. The revenues increased by 20 per cent and the overseas billing by 20-30 per cent. There was also a rise of 25-30 per cent in employment generation.
The sector is expected to perform well in the first half of the fiscal 2006-2007. The growth in overseas billing will be 30 per cent while revenues will increase between 25-30 per cent.
The IT industry identified erratic power supply and poor quality roads as some of the major hurdles. The industry urged the government to abolish Fringe Benefit Tax (FBT) and appealed to educational institutions to create course curriculum to meet its requirements.
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