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Software services,
ITeS growth down 29 pc in FY`08: ESC
New Delhi, September 05, 2008
The computer software and services, including IT-enabled
Services, export growth is estimated to have decelerated to 29
per cent in dollar terms (20 per cent in rupee terms) in 2008
fiscal over the previous year, according to ESC.
The Electronics and Computer Software Export Promotion Council
(ESC) said: "a combination of factors, particularly the
slowdown of the US economy on account of the sub-prime
mortgage crisis, indecision of the corporations to sign the
outsourcing contracts, growing bankruptcies in the West,
particularly in the US, etc, have contributed to the
deceleration of growth of IT exports from the country."
According to ESC estimates, the absolute estimated export of
computer software and services during April 2007-March 2008
was 31.17 billion dollar (Rs 125,500 crore). The growth rate
of this segment was 28 per cent in dollar terms (20 per cent
in rupee terms), while it was 43.30 per cent in the year
2006-07.
We expect the trend to continue for at least two quarters, by
then we expect there could be a bottoming out of the trend,
ESC Executive Director D K Sareen said.
Importantly, during last fiscal the growth rate in dollar
terms was higher than in rupee terms on account of the marked
appreciation of the rupee. The trend has been reversed for the
last few months since rupee has been sliding in terms of
dollar.
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