India's IT exports to Mideast to cross $1b
Dubai: India's IT exports to Middle East are expected to cross $1 billion this year from $700 million last year according to D.K. Sareen, Executive Director of the Electronics and Computer Software Export Promotion Council of India (ESC).Indian IT exports are growing at more than 30 per cent annually and are expected to cross $50 billion in early 2008.
During the current year, electronics and IT exports from India are estimated at $36.67 billion, up from $25.89 billion in 2005-06.
ESC is devising new strategies to expand market share in the Mideast.
"IT exports from India to the Middle East, particularly to the UAE have increased substantially in recent years. We see huge potential for further growth," said Kamal Vachani, honorary regional director of ESC in Dubai.
As part of the Middle East and Africa expansion, ESC has recently entered the South African market.
"We see huge potential in South Africa and the neighbouring African markets. We will continue to anchor our Africa strategies through the UAE," Sareen said.
ESC recently organised its member exporters participation at Futurex 2007, an ICT exhibition in Johannesburg, South Africa. India was a partner country with 32 Indian companies participating in the event.
Currently more than 65 per cent of India's IT exports go to the US while 25 per cent is targeted at Europe.
ESC sees Japan, Africa and Middle East as markets with huge growth potential. "Japan now accounts for less than three per cent of our exports. We are working on strategy to improve the Japanese language skills of our IT engineers and managers," Sareen said.
In the Middle East, ESC plans to organise more sharply focused export shows that will give more exposure to Indian IT products and services.
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