January 2, 2012: Indian Exporters find Middle East more attractive destination for IT business. In the year 2010-2011 the total exports in the sector has drastically increased. It is reported that the increase in export business is by 40 percent which is totally calculated to be $3 billion.
The contribution of the sector across the world is remarkable. In the recent times the IT sector has made a contribution of more than 26 % of the total exports, which is calculated to be $66.48 billion in the year 2010-2011. However, along with the IT exports, the electronic goods and computer software exports business is also drastically growing.
In the previous year, the total business of the IT enable service was $2.15 billion where as it was increased to $3 billion in the very next year. According to experts the increase of 39.5 per cent is considered to be very good. There are also opinions that this drastic change was an impact of the contribution from the export promotion council’s (ESC) initiatives too.
According to Kamal Vachani, who is the regional director of ESC told that there is an increase in the number of companies taking participation in Gitex. Gitex is the ICT exhibitions in the world. This increase in the number of participants has helped the Indian IT companies. Moreover it has also helped to enhance the relationship between Indian companies and the companies in the Middle East. For Indian companies Dubai is one of the most important locations. And it is because of the scope available for the Indian software, hardware services as well as the electronic goods in these destinations. It is also surprising that in the year 2010-11 the value terms of the software and services is calculated to be $ 1,728 million. It is also considered that in the coming year the export of electronics hardware will reach the mark of $10 billion.
Along with software the other major products exported by Indian companies is the color TV and other technologies. Moreover ESC is planning to elevate the position of nation in the coming years as the contribution by India towards international trade is very important. Well, it is obvious that the healthier relationship between these countries will help the IT industry to make huge contributions. As far as IT companies is concerned, they are considering this positive trend as a sign of big achievements in the industry.