India's IT exports to Mideast set to cross $ 1 bln | business | Hindustan Times
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India's IT exports to Mideast set to cross $ 1 bln

business Updated: May 21, 2007 14:51 IST

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India's IT exports are growing at more than 30 per cent annually and are expected to cross USD 50 billion in early 2008, a senior official has said.

The country's IT exports to Middle East are expected to cross $1 billion in 2007 from USD 700 million last year, but the global IT powerhouse is also looking at new markets like Africa as well, DK Sareen, Executive Director of the Electronics and Computer Software Export Promotion Council of India (ESC) of the Union Ministry of Commerce, said.

Currently more than 65 per cent of India's IT exports go to the US while 25 per cent is targeted at Europe.

Sareen, who was in Dubai on his way from Johannesburg where 32 Indian companies attended an IT show, told PTI yesterday that during the current year, electronics and IT exports from India are estimated at $36.67 billion, up from $25.89 billion in 2005-06. Today India's IT exports are touching 200 destinations globally.

Though Indian IT and electronics exports are doing well in the US, Europe and Japan, there are other markets like Africa waiting to be tapped, he added.

Riding on the back of solid growth in Computer Software & services, ESC is evolving strategies for facilitating India's IT exporters enhance their ICT exports to different global destinations, Sareen said.