The IT/ITES product exports from Andhra Pradesh are likely to reach Rs one lakh crore in next five years, president IT and ITES Industry Association of AP, Narasimha Rao said here on Saturday.

“We are receiving positive indications from all over and the trend should continue in order to achieve the figure,” Narasimha Rao told media persons on the sidelines of 7th Annual technology day of ITsAp.

Though the Indian corporate sector started recovering from the recession in 2009, the global trend is still to be assessed, he said.

The IT spend may increase this year as compared to last year. It will be on par with that of 2008, Mr. Rao said.

The State exported Rs 32,500 crore worth of IT/ITES products or services in 2008—09. This year it is expected to be flat or marginal increase.

Earlier speaking on the Annual technology day event, Mr. Narasimha Rao said the event focused on emerging technology trends and opportunities in the space of virtualization by bringing the views from product, research and software services.

Managing Director of Progress Software India, Ramesh Loganathan said virtualization is rapidly gaining prominence and it is really important to bring forth new technologies, platforms, development models and use accentuate the emerging trend.