Press Releases:Software exports from STPI to be lower at 24% in FY-'03

NEW DELHI: Software exports from units under the Software Technology Parks of India (STPI) is likely to register a lower growth of about 24 per cent in 2002-03 from 47 per cent in the last financial year.

This is because two major exporters, Software Technology Parks at Bangalore and Chennai, are likely to register growth rates much below than what they have been posting so far as they have achieved a critical mass in terms of volume, official sources said.

In 2002-03, STPI is expected to grow at a rate of about 24 per cent to touch a volume base of Rs 36,500 crore from Rs 29,523 crore in 2001-02.

In 2001-02, STPI had posted a growth rate of 47 per cent.

Sources said in the case of STP Bangalore, which was the No. 1 software exporter over the last couple of years, growth rate may have slowed down to about 20 per cent in 2002-03 from 30 per cent in 2001-02 while the exports growth rate of Chennai STP is likely to be around 50 per cent from 70 per cent last financial year.

In 2001-02, Bangalore STP touched an export turnover of Rs 9,904 crore and Chennai STP had achieved Rs 5,014 crore export base.

In 2002-03, there will be increase in volume but a decline in growth rates from these two centres, sources said while adding STP units in the rest of the country, however, are on track in terms of value and this would be helpful in compensating the slowdown impact of these two centres.