Andhra clocks highest growth in IT exports
The state has recorded 48 per cent growth in IT exports in 2006-07, up to Rs 185.82 billion ($4.5 billion) from Rs 125.21 billion the year before, reports Ashok Das.business Updated: May 29, 2007 17:12 IST
The IT exports from Andhra Pradesh have crossed $ 4.5 billion (Rs 18,582 crore) in 2006-07, achieving 48 per cent increase over the previous year's exports. This is as against the national average growth rate of 33 per cent.
With this, the share of Andhra Pradesh has grown to 14 per cent of the total IT exports of Rs 134,000 crore ($ 30 billion) from the country.
Software Technology Parks of India ( STPI), Hyderabad Director E Manoj Kumar said that the state was poised to post a growth of 33 to 35 per cent in the current fiscal and achieve the export target of over Rs 25,000 crore ($ six billion).
Kumar said while Hyderabad accounted for bulk of the exports, the growth in Tier-II cities was also steadily catching up. Visakhapatnam has emerged as the next destination in the state recording a growth of more than 100 per cent over the previous year's exports. The other cities like Vijayawada, Tirupati and Warangal are also contributing to the growth of the IT sector in the state.
He said that as many as 174 new units started their operations at Hyderabad during the year. These included Broadridge Financial Solutions, DMV Market Research, Gameshastra, HSBC Software Development, Hyundai Engineering, Pindarset BPO, Tech Mahindra, Thomson Corporation, Xilinx Technology Services, Zensarring the year. Also, 185 existing companies expanded their activities indicating the consistent growth. 34 foreign companies were added during the year in addition to 140 Indian companies.
He said that five companies recorded exports of Rs 1,000 crore and above; three companies accounted for exports between Rs 500 crore to Rs 1,000 crore; 24 companies notched up exports between Rs 100 crore to Rs 500 crore and 387 companies clocked exports in the range of Rs 1 crore to Rs 100 crore.
Almost 68 per cent of the IT exports from AP were made to USA and Canada, with Europe coming next with 18 per cent, Asia Pacific and Middle East countries with 11 per cent and other geographical areas accounting for the remaining three per cent. Segment-wise, IT services accounted for 44 per cent of the exports, followed by ITES/BPO with 33 per cent and enterprise applications and other segments with 23 per cent.
AP IT Secretary Shailendra Kumar Joshi said that Alsbridge survey report has named Visakhapatnam as one among the top 10 outsourcing destinations in India. Export growth from the port city was 100 per cent during 2006-07 and the exports crossed the Rs 245 crore mark. Major companies, which began operations in the port city, include HSBC, Satyam and Wipro. Exports from the city are expected to reach Rs 1,000 crore annually by 2010.
He further said that the total employment in the IT sector in the state has reached 187,450 at the end of 2006-07 fiscal year, which included addition of 35000 jobs in the last year.
Kumar said that AP's growth was the highest at 48.4 per cent among the southern states, with Tamil Nadu coming second with 46 per cent and Karnataka ranking third with 29 per cent growth. However, in monetary terms, Andhra Pradesh continued to rank fourth after Karnataka, Maharshtra and Tamil Nadu.
First Published: May 29, 2007 16:29 IST