Indian IT sector touches $29.5 bn: Maran

Coimbatore, Oct 18: Union Minister for Communications and Information Technology Dayanidi Maran today said the Indian software industry has touched Rs 1,30,000 crore business (29.5 billion US Dollars), of which 23.4 billion US dollars was from exports.

Inugurating Robert Bosch India Software operations at Saravampatti near here, he said India's vibrant IT software and service industry had been projected to reach an export potential of 57 to 65 billion US dollars by 2008.

He said export revenues from IT Enabled Services (ITES) and BPO grew from 2.5 billion US dollars in 2002-03 to 6.3 billion US dollars in 2005-06.

He said India's more than 170 million telephone network was one of the largest in the world and the second largest among the emerging economies after China. The wireless sector had already overtaken the fixed line service in the country, he added.

He said it was estimated that the ITES and BPO sector hired 400 Indians every working day.

Mr Maran said India was rapidly emerging as the R and D hub for the IT sector companies such as Microsoft, Intel, Cisco Which were expanding their operations in India.

He said Bosch was investing over 300 million Euros (Rs 1,800 crore) in India from 2005 to 2008.

UNI