Karnataka IT exports down by 5 pc this fiscal
Bangalore, Mar 9: Karnataka's IT exports are facing the heat of global recession. Due to the economic slump, State's IT exports is set to pull down by five per cent in the current fiscal year. However, the state officials rubbished the talks on large scale job cuts in the IT sector.
Karnataka's IT Secretary Ashok Kumar C Manoli said "We expect four to five per cent fall in exports for the year (2008-09) compared to last year."
In 2007-08, the state's IT exports, driven by companies such as Infosys and Wipro, totalled Rs 56,500 crore. Karnataka accounts for one-third of the country's total IT exports.
Even voice-based buisness process (BPO) companies in Karnataka are affected by global slump.
Voice-based business process outsourcing (BPO) companies, in particular, who depend on outsourcing, have come under strain in Karnataka. There is fearful expectations over what would happen to 1.5 lakh to two lakh BPO employees working in various firms.