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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)

SIFY 10.45

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To: Mohan Marette who wrote (703)	2/14/2000 1:56:00 PM
From: Mohan Marette	Read Replies (1) of 1471

OT 60% growth seen in software exports: Nasscom 14-02-2000 15:34:52 The National Association of Software and Service Companies (NASSCOM) said today that its latest survey had projected a 60% growth in the country`s software exports in 2000 to $8 billion. "The 60% projected growth during the year 2000 proves the point that the Indian software industry is not dependent merely on Y2K-related projects," a statement quoted NASSCOM President Dewang Mehta as saying. "The software industry in India has earned $5 bn in the year 1999, which is a growth of 52% over the 1998 annual revenue of $3.29bn," he added. He said that although the survey showed a slowdown in Y2K orders in the second half of 1999, it was offset by growth in other areas. "However, the slowdown in Y2K-related projects was more than offset by new opportunities created in growth areas such as e-commerce and IT-enabled services, which accounted for almost 16% of the export revenues generated in the second half of 1999." Earlier this month, the apex body representing the sector said exports of India's booming computer software industry would cross $20 bn in 2003, making it the country`s largest export earner. Software exports increased their share in India`s export basket to 10.5% in the first half of FY2000 from 8.5% in the same period of the previous year. India's software exports grew to $1.87bn during April-September 1999 out of the total Indian exports of $17.4bn during that period. NASSCOM had previously forecast that Indian software exports would touch $3.9bn in FY2000, up from $2.65bn in the previous year. Source: Reuters

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