India’s software, services sector to grow to $ 105 b by 2014

Wednesday, 24 August 2011 01:28 - - {{hitsCtrl.values.hits}}

IANS: The software and services sector has the potential to grow to $105 billion by 2014 and $225 billion by 2020 from $58.7 billion in 2009, Minister of State for Communications Sachin Pilot has said.

“According to the task force, with suitable policy initiatives in place, the software and services sector has the potential to grow from $58.7 billion in 2009 to $105 billion by 2014 and $225 billion by 2020,” said Pilot in a written reply to the Lok Sabha last week.

Exports are expected to grow from $46.3 billion in 2009 to $82 billion by 2014 and $175 billion by 2020, he added.

In 2009, the Department of Information Technology (DIT) had set up a task force to recommend measures to stimulate the growth of IT, ITES and electronics hardware manufacturing industry in the country.

The task force has also projected that the electronics and hardware production in the country is expected to grow from $20 billion in 2009 to $100 billion by 2014 and $400 billion by 2020.

This includes exports of $4 billion in 2009 growing to $15 billion by 2014 and $80 billion by 2020.

The employment generation in the software and services sector is projected to grow to 15.9 million by 2014 from 10.2 million in 2009 and 30 million by 2020 while that in the electronics hardware sector is projected to grow to 16.1 million by 2014 and 27.8 million by 2020.

In 2009, it stood at 4.4 million.

The government is also proposing to set up National Electronic Mission on the recommendation of task force on information technology.

The minister also said that the task force has made 198 recommendations for continuous growth of the industry.

“The task force has suggested several measures for rapid growth of the industry and has outlined a roadmap for the industry in the medium and long-term,” said Pilot.