India's Share in IT industry

US share in IT exports falls to 61.68 pc: ESC
Source: http://www.thehindubusinessline.com/2004/09/27/stories/2004092701710200.htm
Our Bureau
Exports to the US and Canada, in absolute terms, have gone up from Rs 29,658 crore in 2002-03 to Rs 35,777 crore in 2003-04.
New Delhi , Sept. 26
THE share of Indian software and IT-enabled services (ITES) exports to North America has come down from 63.78 per cent in 2002-03 to 61.68 per cent in 2003-04, even as the share of exports to Europe and Japan has shown an upward swing.
"It is a good augury that the overdependence on one single market — the US, for export of software and services, is coming down. This only shows that export penetration in alternate markets are picking up. This is a good hedge against market risk that could happen to software exports from India," Mr D. K. Sareen, Executive Director, Electronics and Computer Software Export Promotion Council (ESC), said in a statement.
India's exports to the US and Canada, in absolute terms, have gone up from Rs 29,658 crore in 2002-03 to Rs 35,777 crore in 2003-04 — an increase of 21 per cent in rupee terms.
"This has happened, despite the campaign in the US against the business process outsourcing. We are confident that software and services exports to the US will grow at an average rate of 20 per cent in the coming years and India will continue to be the most sought after outsourcing destination for the US companies," he said.
Mr Sareen pointed out that the share of Indian software exports to Europe had risen from 22.79 per cent in 2002-03 to 25.09 per cent in 2003-04.
In absolute terms, exports to Europe have picked up from Rs 10,597 crore in 2002-03 to Rs 14,545 crore in 2003-04.
Interestingly, the share of software and services exports to Japan and other Far East countries also went up in 2003-04, according to ESC estimates.
In 2003-04, share of exports to Japan and other Far East countries was 5.36 per cent, as against 4.44 per cent in 2002-03.
Another significant increase in India's export of software and services was to the Latin American region.