Press Releases: STPI Karnataka exports up 33 pc

USA remained the top destination for software exports at 69 per cent, Europe accounted for 21 per cent, followed by West Asia by 5 per cent and Japan at 3 per cent.

FIRMS registered with the Software Technology Parks of India (STPI), Karnataka, reported export revenue of Rs 9,903 crore for 2001-02, up 33 per cent from Rs 7,475 crore a year ago, the STPI Director, Mr B.V. Naidu said.

The Bangalore chapter of STPI added 110 new units in the last financial year. The number of STPI registered units in Karnataka is 1,038, up from 928 units a year ago.

While 60 per cent of the new units were foreign equity funded, 5 per cent of them were major Indian companies and the remaining 35 per cent were small and medium enterprises. The new units drew a capital investment of Rs 1,383 crore during the last financial year.

Foreign equity-funded firms invested Rs 892 crore, medium Indian companies invested Rs 283 crore and the remaining Rs 208 crore came from small and medium enterprises.

The SMEs reported a 39 per cent hike in exports in the last fiscal at Rs 1,361.66 crore, up from Rs 977.06 crore. The medium Indian companies reported export revenue of Rs 4,463.64 crore, up 13 per cent from Rs 3,954.61 per cent and the foreign equity surged to Rs 4,077 crore, up 60 per cent from Rs 2,543.33 crore.

While North America remained the top destination for software exports at 69 per cent, Europe accounted for 21 per cent, followed by West Asia by 5 per cent and Japan at 3 per cent. The other countries accounted for the remaining 2 per cent.While IT-enabled services accounted for 5 per cent in last year's exports, it is likely to report a spurt in its exports in the current year, Mr Naidu said. Meanwhile, the hardware sector reported an export of Rs 838.09 crore in the financial year 2001-02, up 128.27 per cent from Rs 367.14 crore a year ago.

Even in the hardware exports, USA accounted for 38 per cent of exports, followed by Europe at 33 per cent, other Asian countries at 22 per cent, Japan at 6 per cent and the rest of the world at 1 per cent.

During the current financial year, the STPI in Karnataka received 15 enquiries to set up software exports units, which is in line with the momentum of last year.