Kolkata's IT & ITeS among India's fastest growing SMEs: D&B

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Tuesday , March 25, 2008 at 2342 hrs IT & ITeS companies, operating in and around Kolkata, will be among India's fastest growing companies in the small and medium sector, according to Dun & Bradstreed, the world's leading business information and knowledge provider.

Chief operating officer Kaushal Sampat, who launched the sixth publication of the series, SME Clusters in India', here on Tuesday, said IT and ITeS companies operating in the vicinity of Kolkata expect an annual average revenue growth of 57% over the next two years as against 22% during the last two years.

Dun & Bradstreet covered and profiled 1,800 companies across India for the said publication taking each geographical location as a cluster.

Sampat said New Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Pune were each taken as a cluster, and for every cluster four most vibrant sectors were identified, under which companies were covered and profiled.

Dun & Bradstreet covered four sectors-food processing, engineering, textiles and IT & ITeS for the Kolkata cluster and profiled 342 companies in its publication. Out of that, 164 companies belong to the engineering sector, 29 to the food processing, 97 to the textile and 52 to the IT and IteS sector.

Sampat said while engineering sector companies expect an average annual revenue growth of 38% in the next two years; companies belong to food processing, textile and IT & ITeS sectors expect 33%, 35% and 57%, respectively.

He said although 50 of these companies' revenues come from exports, especially to the US, appreciating ruppee would not be a factor so far as growth is concerned.