Software industry targets $54 bn exports in FY'10

Slowdown hit, India's software exporters are exploring new markets in the middle east and Africa to increase IT exports by 10 per cent and touch $54 billion in the current fiscal.

IT software exports were valued at $49.5 billion in 2008-09, which was about 14 per cent more than that in 2007-08.

"We are not expecting much growth in exports in 2009-10 due to the global slowdown," Electronics and Computer Software Export Promotion Council executive director D K Sareen said. The ESC, however, has set a higher target for growth in electronics hardware exports, he added.

The council has set a target to earn $4.5 billion from electronics hardware export in the current fiscal which is about 15 per cent more than the shipments of $3.9 billion in 2008-09.

With most of the country's main markets like the US and EU reeling under the impact of demand slowdown, the ESC is encouraging the industry to explore West Asia, Latin America, South African region and Japan to increase exports.

India will be showcasing its strength in IT hardware, software and services and telecom sectors at GITEX, an IT exhibition in Dubai.

India had exported electronics hardware and software worth $980 million to Middle East countries in 2007-08.