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Software exports growth rate peaks at 64.4 per cent

This represents a record growth rate of 64.4 per cent.

NASSCOM Executive Director Dewang Mehta has attributed the success to the rising respect for Indian software expertise in the international market.

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Mehta thanked Finance Minister P Chidambaram for exempting software exporters from 'minimum alternate tax'. He said that "With the removal of MAT, software exporters are ploughing back profits into expansion projects and creating intellectual property through R&D.''

In early 1997-98, NASSCOM had launched a major initiative to penetrate new markets. Under this initiative, major business seminars were held in the US in October 1997. Two more business seminars are scheduled in Seoul and Tokyo.

"More seminars are planned for South Africa in February 1998 and initiatives in the Middle East and Latin America are planned for March 1998,'' Mehta said.

The immediate outcome of the US roadshows is a serious interest shown by Computer Associates, the second largest computer software company in the world, to set up a development centre in India. Adobe Systems has also expressed interest in getting its software developed in the country. Informix too has drawn up expansion plans for software development in India.

- Compiled from the Indian media

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