India's aerospace software exports boom
10 Jun 2011
Hyderabad: Indian software exports to the aerospace industry have crossed the $500 million mark in 2010-11. Nasscom officials, however, warned that export growth rates could change keeping in view the cyclical nature of the industry.
''This niche segment is growing at a compounded annual growth rate of 20 per cent,'' said BVR Mohan Reddy, a Nasscom executive council member and chairman and managing director of Infotech Enterprises. He was addressing a press conference here on Wednesday.
On the other hand, the promising aviation sector in Russia, Brazil and China could also help the Indian industry grow further, he said.
His firm, Infotech Enterprises, which specialises in engineering services, contributed $100 million, or 20 per cent, of all aerospace exports from the country.
Overall software exports, which grew 10 times to $59 billion from $6 billion 10 years ago, are expected to cross the $225 billion mark by 2020.
Of the $59 billion software exports from India, engineering services segment contributed $ 9 billion, Reddy said.
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