India Aims for Fourfold Jump in IT Exports to $80 billion by 2010

Indian software and services exports are expected to jump nearly 33% to $31.3 billion during the fiscal year ending Mar 2007. India's Prime Minister Manmohan Singh told Indian IT leaders to be ambitious and aim for IT expots of $80 billion in 2010, nearly fourfold increase in annual exports of from fiscal 2006. 

"We need to work hard to retain our edge and even harder to increase our share of the world market," Prime Minister Manmohan Singh told nearly 1,000 participants of a three-day conference, organized by NASSCOM, India's main software services trade group, reports AP. 

Indian IT services exports jumped 32% to $23.4 billion in the 2005-2006 fiscal year that ended March, while the total software and services exports are expected to jump nearly 33% to $31.3 billion during the fiscal year ending Mar 2007, according to NASSCOM. 

Related: Indian Outsourcing Industry Set to Jump 33% to $31.3 billion

Singh said NASSCOM's export target of $60 billion per year by 2010 was not high enough. "We must be more ambitious, considering the way our economy and exports are rising. This target should be met by 2008 and by 2010, we should be looking at a target of US$80 billion dollars," Singh said.

Singh also asked the information technology sector to strive to help India's large rural population. Nearly 70% of India's more than 1 billion people live in rural areas and mostly depend on agriculture for survival.

Related:

PM Singh: India Should Aim For $80 Billion Software Exports By 2010 - Nasdaq

India's prime minister sets annual export target of US$80 billion for IT sector by 2010 - AP

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