IT software exports up by 28 per cent in first five months

Bangalore, Sep 28 (UNI) Software exports from Bangalore was up by 28 per cent during the first five months of the current fiscal with 62 new companies starting operations with a total investment of around Rs.1100 crore.

Disclosing this to newsmen here today Bangalore Software Technology Parks of India Director B V Naidu said that the current year's performance was expected to be around 33 per cent more than the previous year and would be higher than the national mark.

Among the new companies, 42 have come in with foreign equity he said adding that the investment did not include expansion carried out by various existing companies.

By the end of the year the IT and ITES industry in the state would have provided an employment of over 400,000, he added.

He said companies were also looking towards investment in tier two cities such as Mysore where the latest entrant would be a legal outsourcing company which aimed to have 40 staff initially and it would be icnreased to 300 in a phased manner.

Speaking to newsmen on the nineth Edition of Bangalore IT.in to begin here on October 27 be said Bangalore Brand is the best would be the theme for the four day event which had attracted over 300 companies, including 175 from abroad. In all nine pavilions would be there and special focus would be on Small and Medium Enterprises. He said to encourage Tier two and Tier three cities to come forward a special discount would be given to companies operating from these centres.

While seven countries have confirmed their participation, more would follow he said adding that as many as nine states would have representtion at the show, gaining ground every year.

He said the event would also highlight the growing importance of Tech Parks in the country, especially with the Centre opening up Special Economic Zones.

He said three conferences including one on Human relations and another on the growing opportunities in Design companies would be held.

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