Software services exports are expected to grow by just 10 per cent to around $75 billion during the current fiscal year as demand from the US is seen slowing down, according to the Electronics and Computer Software Export Promotion Council.
The United States is India's largest software services market.
"In 2012-13, we expect a growth of 10 per cent in software services exports," ESC executive director D K Sareen said on the sidelines of a two-day international IT exhibition, India Soft 2013.
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During 2011-12, India's software and services exports grew by 18 per cent to $68.02 billion with the US as the top destination, accounting for nearly $39.4 billion or 58 per cent of the total exports.
Software exports were hit hard through 2011 as clients delayed decisions mainly due to the global economic problems. The share of the Middle East, which accounted for three per cent of the total exports basket at $2.07 billion in 2011-12, was seen rising by 1.50-2.00 percentage points in the current financial year ending March, Mr Sareen said.
The council expected India to double exports of software services in Latin American region to $1 billion in the next two years, mainly due to incremental demand coming from Brazil, hosting two global sporting events, Football World Cup 2014 and Summer Olympics 2016, Mr Sareen said.
In 2011-12, India's software services export in Latin America stood at $563 million.
ESC chairman S Radhakrishnan said promotional activities of the council would help in boosting the software services basket in non-traditional markets.
He said ESC had sponsored 30 delegates each from Latin America, Africa, CIS and ASEAN countries for India Soft where Indian companies, mainly SMEs could showcase their products and services.
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