Focus should be on new and emerging markets
KOLKATA: Stung by a slowdown in one of its main markets, the U.S., Indian IT exporters may have to rework their targets for 2009-10 when the effects of the economic slowdown will be felt even more acutely.
Giving this indication, D. K. Sareen, Executive Director of the Electronic and Computer Software (ESC) Export Promotion Council, a government-sponsored body, said that between April and September 2008, IT exports had been of the order of $25 billion against a target of $58 billion for 2008-09. Software exports during this period stood at $23.65 billion against a target of $55 billion, he said.
He urged exporters to start focussing on new and emerging markets so as to reduce dependence on the U.S.
Mr. Sareen was talking on the sidelines of a meeting on IndiaSoft 2009, which is scheduled to be held here on February 26 and 27, 2009.
State IT Minister Debesh Das said that according to a Dun & Bradstreet report, small and micro enterprises in the State IT sector were surpassing the quality seen in other IT-strong cities like Hyderabad, Chennai and Pune. He urged IT exporters to prepare for the boom that would follow this recessionary period.
IT Secretary Siddharth said this was a very serious type of event where only buyers and sellers were allowed. He also pointed out that uncertain times provided good opportunities to innovate and find new solutions. Around 100 participants are expected at this meet.