IT, ITeS exports may see 10% growth in FY19

Indian IT and ITeS exports may clock 8 to 10 per cent growth during the current fiscal a senior official of Electronics and Computer Software Export Promotion Council (ESC), a body under the Department of Commerce said here Tuesday.

Executive director of ESC, D K Sareen also said the export of electronic hardware may also witness positive growth at about seven to eight per cent on the back of newer avenues such as Solar power electronics, UPS systems and electronic energy meters.

"These numbers (IT and ITeS exports) are difficult to obtain unless and until we have the full figures from RBI.

But we are seeing that the first two to three quarters are certainly performed up to the expectations.

So overall who look at the growth of growth of about 8 to 10 per cent (this year)," the ESC official on the sidelines of a programme.

In February last year, industry body Nasscom had projected that Indian IT exports may grow at seven to eight per cent during the current fiscal at $137 billion against $126 in FY 18.

Replying to a query on hardware and electronic component exports, Sareen said there was a negative growth during the last three years on account of various factors including the shutdown of Nokia manufacturing facility in Chennai.

"I think we are looking at growth of about 7 to 8 per cent in the hardware given the fact that in the last two to three years the hardware Exports declined. Very large capacity built by companies like Nokia for cell phone manufacturing plant was shut down.

But we are seeing new areas specially solar power electronics, UPS systems electronic energy meters. These are the new upcoming items to be exported from India," he said.

Hoping that electronic hardware exports are on the upward trend, he said there were indications that some of the key manufacturers were keen to relocate their manufacturing faculties to India from China.