IT sector grows 33%, exports up 36% | india | Hindustan Times
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IT sector grows 33%, exports up 36%

The software and services exports soars 36% in fiscal 2006, touching a revenue base of Rs 78,134 crore.

india Updated: Aug 09, 2006 17:52 IST

The software and services exports have posted a healthy growth rate of 33 per cent in fiscal 2006, touching a revenue base of Rs 78,134 crore. Tata Consultancy Services emerged as the top exporter during the year.

The Indian IT exports also grew at 36 per cent touching a revenue of Rs 1,08,511 crore in the 2006 fiscal, according to business publication Dataquest, in its Top 20 survey 2006.

"IT exports is likely to maintain this growth rate in the coming years, with a growing number of Indian IT firms bagging or renewing high-value long-term service contracts," Dataquest said in a statement on Monday.

The domestic market also kept pace with exports and grew 28 per cent at Rs 56,141 crore in the last fiscal.

"That the domestic market grew by over 20 per cent in 2005-06 is a clear indicator of the changing mindset of the Indian enterprises, traditionally apprehensive about outsourcing," it said.

Heading the list of the Top 20 Software and Services Exporters for 2005-06 was Tata Consultancy Services with revenues growing 40 per cent from 2004-05 to Rs 11,595 crore. Close on the heels of TCS is Infosys, which increased 32 per cent at Rs 8,977 crore in 2005-06.

BPO exports saw an increase of 37 per cent and earned revenues of Rs 27,789 crore in 2005-06.

Hardware exports stood at Rs 2,588 crore in fiscal 2006, up 7 per cent. PC sales increased 21 per cent to 4,052,241 units while laptop sales jumped 168 per cent to touch 588,592 units, the survey said.

On the recruitment front, Infosys led the list by hiring 75 per cent freshers, while the industry saw 741,000 new entrants throughout the year, it added.

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