AP witnesses 48% growth in software exports

Hyderabad, May 29 | Updated: May 30 2007, 05:30am hrs
Andhra Pradesh has registered Rs 18,582 crore from software exports through the IT industry for the year 2006-07, which is 48% growth as against Rs 12,521 crore registered during last year. With this, the state has attained the fourth position after Karnataka, Maharashtra and Tamil Nadu and IT exports contribute to 53% to the overall exports from the state.

Announcing this to the media, E Manoj Kumar, director, Software Technology Parks of India (STPI-Hyderabad) said the year 2006-07 has seen a consistent growth in IT sector.

About 174 new companies were registered during the year, with 34 foreign equity companies and 140 Indian companies apart from forming two IT parks.

The projected investment during the year was Rs 1,900 crore by the newly-registered units, which includes Rs 603 crore from foreign companies, Rs 626 crore from Indian companies and Rs 671 crore from the IT parks.

"Going by the growth of IT companies, we are expecting a 35-40% growth for 2007-08 with exports set to touch Rs 25,000 crore," he said. This would help in bringing about four lakh jobs (both direct and indirect) in the next two years through the IT industry," he said.