Software exports to touch 5.5 bn this year

On the likelihood of problems such as shortage of exports, the official said these factors have been taken into consideration while fixing the target.

The official said with over nine states having already announced their Information Technology IT policies and many more in the process off drawing up comprehensive IT plans, the state governments are being roped in a big way to increase the quantum of software and services exports from the country.

8220;The target of 50 billion software exports by the year 2008 is achievable if the growth rate of 37 per cent over the 3 billion dollar exports of 1998-99 is maintained,8221; the official said adding the target for the current fiscal has been pegged at 5.5 billion besides 2 billion in the form of other service exports during the period.

On the existing advantages for the Indian computer industry, the official said besides highly skilled English speaking software professionals, the Indian software industry had also developed cost effective yet high quality software solutions using state-of-art technology.

8220;A large proportion of software export comprises of the customised software development, on-sight services, off-shore services, IT enabled services including data-entry services,8221; the official said adding the industry had greatly developed project consultancy, package software and E-commerce kind of interactive services for the customers that would help in accelerating exports.

On the progress of implementation of recommendation of the task force on Information Technology, the official said the implementation 8220;is being vigorously followed8221;. The task force submitted its first report in July 1998and all the 108 recommendations of IT Action Plan have been accepted by the government, the official said.

For improving the quality of human resource development and to improve the skills of existing software professionals, the ministry of Information Technology has taken initiative for implementation of Distance Learning Online programme, the official added.

BANKS IN E-COM BUSINESS: The passing of the information technology IT bill 2000 has made it easy for many banks who were waiting on the fringes of the e-commere bandwagon to firm up their plans. Players who are sewing up plans include HSBC, HDFC Bank, ICICI Bank, IDBI Bank, UTI Bank, IndusInd Bank and state-run entities like State Bank of India SBI and Corporation Bank.

With no legal mechanism for taking recourse when faced by a security breach, several banks had put off their forays into e-commerce. Other banks who use the net have not gone the whole hog. With a mechanism in place now to bring the guilty to book, more organisations will be encouraged to transact on the net, thereby eliminating layers in their supply chain and reducing costs.

HSBC will be launching its internet banking by the fourth quarter this year. This will include mortgage and life insurance. The IT bill will provide a regulatory regime to supervise digital certification, and create civil and criminal liabilities to check electronic crimes. More importantly, the Bill will boost e-commerce initiatives. Security on the Internet means the need to maintain the privacy, integrity of data, authentication of the sender and non-repudiation of the message 8212; a sender cannot deny sending the message and the recipient cannot deny receiving it.

Among other things, it stipulates a judicial framework for digital signatures and certificates, thereby providing validity to electronic records both for commercial purposes, and as an evidence in a court of law. Apart from the convenience this offers, it will also result in substantial cost-savings over time. As in the depository for shares, both paper-based and electronic records will co-exist.