The slow down of US economy did not affect IT industry: Karthik

Bangalore, Dec 12 (UNI) The 'Slow-down' of U.S economy has not affected the growth of the Indian IT industry which was expected to meet its export target of over 60 billion US Dollar by 2010, Mr Kiran Karthik, Chairman, National Association of Softwre and Service Companies (NASSCOM) said here today.

Speaking to newspersons on the sidelines of the 2-day IT Women Leadership Summit-2007 he said divergent views were being exprssed on the impact of the US slowdown and its impact on the IT Industry.

While some feel that it would boost the Indian economy, a few have expressed reservation. '' We are keenly tracking the events which were taking shape in the U.S market'' he added.

Expressing concern over the Rupee getting stronger against Dollar and its ill-effect on the India export scenario, Mr Karthik felt that Government should do something which would help to tide over from its impact. "This year the surge of rupees was not as fast as it was seen last year gaining over 15 per cent against dollar" he said.

On the issue of STPI scheme which would end next year Mr Karthik informed that NASSCOM would raise the issue when it meets Union Finance Minister P Chidambaram in connection with the budget proposals for next fiscal. "While industry can do what it can do, there are many issues which should be addressed by the government" he said.

Stating that other countries were offering huge incentives to boost employment and export for the IT industries and India could not ignore it, he said.

UNI