Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9931)	12/6/1999 8:26:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

IT industry to be $ 140 billion by 2008 -- Nasscom ENS ECONOMIC BUREAU MUMBAI, DEC 5: The infotech industry would be worth $ 140 billion and the software industry $ 85 billion, Nasscom president Dewang Mehta said on Saturday. The market capitalisation of software companies would shoot up to a minimum $ 300 billion (around Rs 13,02,000 crore) with over 500 listed companies by 2008, he added. The IT industry's market capitalisation (the total value of all listed shares) has been estimated at Rs 1,20,000 crore or 15 per cent of the total market cap of Rs 7,00,000 crore. Giving an overview of the Indian IT scenario in the days to come, he said foreign direct investment in the software sector would exceed $ 5 billion in 2008 and the industry would account for 20 per cent of GDP. Mehta was addressing a user conference by CAD/CAM major Parametric Technology Corporation. He identified the conversion of legacy systems to web-enabled systems as a major revenue earner for Indian software companies post 2000. "All the companies who came to us for Y2K work will now come to us for this,"he said, predicting the industry would now see an accelerated growth of 75 per cent per annum. So far, the software industry has consistently grown at 50 per cent and is projected to touch $ 5.7 billion in 1999-2000. Exports are projected at $ 3.9 billion and the domestic industry at $ 1,250 million for the same period. Around 61 per cent of exports are to North America and 23 per cent to European countries. The IT industry, hardware and software together, is expected to show 30 per cent growth at $ 8.3 billion in 1999-2000. expressindia.com