Lauding Government policies and investments in human capital development which played a major role in the growth of IT sector, the pre-budget Economic Survey said Indian IT and electronics industry recorded a growth of 21.6 per cent in 2003-04.
The survey said in IT the role of Government has been very different from other industries. In 2003-04 the production in IT and electronics industry increased to Rs 1,14,650 crore from Rs 97,000 crore in 2002-03.
It also said despite global difficulties in information, communication and technology sector, the export of Indian software and services is estimated to have increased to Rs 55,500 crore in 2003-04 clocking growth of 20.4 per cent in Rupee terms and 28 per cent in dollar terms as compared to 2002-03.
Total electronics and IT exports from the country increased 18 per cent to Rs 61,500 crore in 2003-04 from Rs 51,700 crore in 2002-03.