India Services Exports to Hit $310 billion and Surpass Merchandise Exports by 2012
|
India: Projected Exports of Services and Merchandise |
||
|
|
Services
($ billion) |
Merchandise
($ billion) |
|
2006 |
71.6 |
112.4 |
|
2007 |
91.5 |
132.7 |
|
2008 |
116.9 |
156.8 |
|
2009 |
149.2 |
185.3 |
|
2010 |
190.6 |
218.9 |
|
2011 |
243.4 |
258.6 |
|
2012 |
310.9 |
305.5 |
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.
Indian
economy, Asia's fourth-largest, was expected to expand 9.2% this fiscal
year ending in March, its fastest growth in almost two
decades, according to the government reports. By comparison, China's
economy grew 10.7% in 2006. India's economic growth has averaged 8.3% over the past three
fiscal years.
Indian
software and services exports are expected to jump nearly 33% to $31.3
billion during the fiscal year ending Mar 2007, according to the the
Strategic Review 2007 report by NASSCOM, IT software and service
industry trade body in India.
India's
industrial production rose 14.4% in November, the fastest pace in 11
years, compared to 4.4% growth in October, according to the Central
Statistical Organisation, reports Bloomberg. Analysts expected an 11.3%
increase in November. Rising consumer spending may prompt the
central bank to raise its 6% benchmark interest rate.
