IT exports touch Rs 29,500 cr in Q1 FY07

New Delhi, Aug 6 (UNI) Software and services exports including IT Enabled services (ITeS) is estimated to have reached Rs 29,500 crore in the first quarter of current fiscal ending June 30, 2006, according to data compiled by the Electronics and Computer Software Export Promotion Council (ESC).

''The exports of software and ITeS have increased to 32.29 per cent in the quarter April-June 2006 as compared to the same period in the last year, which is quite in line with the expectations. We expect the pace of growth to accelerate in the subsequent quarters since increasing number of Indian IT companies are now focusing on value added services like verticals etc,'' ESC Executive Director D K Sareen said.

As per ESC's projection for 2006-07, export of computer software and services including ITeS will increase to Rs 1,40,000 crore. This will be 33 per cent higher than the achievement in the previous year at Rs 1,05,000 crore.

Mr Sareen said according to the council's estimates, in the first quarter itself, 21.07 per cent of the target has been achieved and going by the pace of growth, targets will be achieved comfortably.

The reports that are emanating from the corporates are quite encouraging, he added.

In the case of computer hardware, the estimated export for the quarter April-June 2006 stood at Rs 2,000 crore, which is a 25 per cent growth over the previous year for the same period. ESC has projected Rs 11,500 crore for 2006-07.

Of the target set for the current year, 21.4 per cent has already been achieved.

''We envisage an annual growth of 19 per cent for the year 2006-07 in the hardware sector. That is possible since there is some buoyancy in the hardware sector in the recent period,'' said Mr Sareen.

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