Infotech exports up by 45.6 per cent in 1999-2000

August 16: India's Infotech exports including hardware and software recorded a 45.6 per cent increase in 1999-2000 to Rs 18,550 crore with...

August 16: India’s Infotech exports including hardware and software recorded a 45.6 per cent increase in 1999-2000 to Rs 18,550 crore with the US market accounting for 60 per cent of the overall exports.

The share of European market in the overall IT exports market declined to 20.7 per cent in 1999-2000 compared to 25.7 per cent in the previous year, IT Minister Pramod Mahajan told Lok Sabha in a written reply.

The share of non-EC countries, however, increased to 2.13 per cent during the period from 0.26 per cent in the previous year, he said.

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Other major export markets for India included Singapore, Hong Kong and other South Asian countries which accounted for 7.8 per cent of the total exports. The share of Japan, Korea and other Far East countries was 3.25 per cent in 1999-2000.

Mahajan said the government has cleared Foreign Direct Investments (FDI) worth Rs 4,108.5 crore in the Infotech sector between January and June.

Premji said that Wipro would partner with the Government "to find a lasting solution for Bengaluru's mobility challenges".

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