The IT and ITeS Industry Association of AP (formerly Hysea) is anticipating a growth of about 20 per cent in exports from Andhra Pradesh in the next financial year, according to its president Narasimha Rao. Software exports from the state touched Rs 32,500 crore last year and according to an estimate, the figure crossed Rs 30,000 crore this year in December.
“We expected exports to be flat or negative this year. However, there has been a positive upturn since the last six months and we hope to witness a 5-6 per cent growth this fiscal. Next year, a 15-20 per cent growth is a reasonable expectation,” he told mediapersons here on Wednesday.
Stating that the impact of extension or non-extension of the Software Technology Parks of India (STPI) scheme will be felt only in the long-term, Rao said the industry had picked up after the downturn, with the US being the biggest driver of growth. “However, the largest growth is expected from the Asian countries over the next decade,” he added.
ITsAP will be organising its 18th annual awards and software products’ showcase and conference in Hyderabad from March 12. The two-day event will see about 63 companies, with the majority being early-stage start-ups, showcasing their technology innovations.
“We saw a total of 111 nominations for various categories and this year, ITsAP is expecting further uncovering of new product companies. Venture capital companies like DFJ, IDJ, Helion and Ojas Ventures and angel investors like Ananth Rao had confirmed their participation,” said Ramesh Loganathan, member of management committee and chief coordinator (ITsAP software products forum).