INDIA: SOFTWARE EXPORTS 2 PERCENT OF GLOBAL IT SPENDING.(Brief Article)

IPR Strategic Business Information Database, May, 2004

India 's IT services export is only two percent of the worldwide IT spending despite the global focus on the country's offshoring capabilities, merchant banker Goldman Sachs said in its latest report. The IT sector contributes only three per cent to India 's GDP but is slated to account for 8-10 percent of the GDP by 2008, Goldman Sachs said.

Although a small player in the global IT services, these exports are crucial for India as they have a profound impact on its balance of payments. The software and services export clocked an annual growth of 30 per cent in 2003 and constituted 32 per cent of the total exports, it said. - (World IT Report.com)