India's IT exports to ME to double

(MENAFN- Khaleej Times) Exports of Indian electronics and its related services to the Middle East is expected to double in the next two years as the region is one of the important markets and has great potential for growth, according to a top official at the Electronics and Computer Software Export Promotion Council, or ESC. The region contributes around five per cent of total exports of Indian electronics goods, software and services, and there is huge potential to make it 10 per cent in two years time, newly-appointed ESC chairman Vinod Sharma told Khaleej Times during his recent visit to Dubai. He said that the country's total hardware, software and services exports is projected to increase by 12 per cent to $84 billion by the end of fiscal year 2013-14 over the last fiscal year. The Middle East is expected to contribute around $4.2 billion in 2013-14 and $8.4 billion in the next two years, according to Sharma's projected estimates. He said electronics exports to the region stood at $1.67 billion during fiscal year 2012-13 while exports of software and related services reached $1.85 billion. On the latest customs levy on TVs, he said it is needed because of the huge current account deficit. He appreciated the role of ESC's honourary regional director for the Middle East, Kamal Vachani, in promoting the council in the region. "Vachani helps us here how can we target, service and focus better." Meanwhile, the 14th edition of India's international IT event, Indiasoft 2013 will be held on November 28-29 in Mumbai.