Indian IT and ITeS exports may clock up to 10% growth in FY19; electronic hardware shipment likely to get a boost too

Hyderabad: Indian IT and ITeS exports may clock 8 to 10 percent growth during the current fiscal a senior official of Electronics and Computer Software Export Promotion Council (ESC), a body under the department of commerce said here on Tuesday.

Executive director of ESC, D K Sareen also said the export of electronic hardware may also witness positive growth at about seven to 8 percent on the back of newer avenues such as solar power electronics, UPS systems and electronic
energy meters.

 Indian IT and ITeS exports may clock up to 10% growth in FY19; electronic hardware shipment likely to get a boost too

Representational Image. Image: Reuters

"These numbers (IT and ITeS exports) are difficult to obtain unless and until we have the full figures from RBI. But we are seeing that the first two to three quarters are certainly performed up to the expectations. So overall who look at the growth of growth of about 8 to 10 percent (this year)," the ESC official on the sidelines of a programme.

In February last year, industry body NASSCOM had projected that Indian IT exports may grow at 7 to 8 percent during the current fiscal at $137 billion against $126 billion in FY 18.

Replying to a query on hardware and electronic component exports, Sareen said there was a negative growth during the last three years on account of various factors including the shutdown of Nokia manufacturing facility in Chennai.

"I think we are looking at growth of about 7 to 8 percent in the hardware given the fact that in the last two to three years the hardware exports declined. Very large capacity built by companies like Nokia for cell phone manufacturing plant was shut down. But we are seeing new areas specially solar power electronics and UPS systems electronic energy meters. These are the new upcoming items to be exported from India," he said.

Hoping that electronic hardware exports are on the upward trend, he said there were indications that some of the key  manufacturers were keen to relocate their manufacturing faculties to India from China.

Meanwhile, the 19th edition of Indiasoft, international exhibition and conferences, a flagship IT event of the ESC to be held here on 4 February and 5, chairman of organising committee of the event, Nalin Kohli said.

The event would bring over 500 foreign ICT buyers from 60 countries. Close to 250 Indian IT firms and over 20 foreign IT
companies of various hues and sizes would display their products and solutions to the discerning buyers, he added.

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Updated Date: Jan 08, 2019 19:07:56 IST