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IT
exports to cross 16 billion in 2003-04
Mumbai:
According to a survey conducted by the National Association
of Software and Services Companies (Nasscom) the software
and services industry is expected to cross the $20 billion
mark in the current financial year, with exports likely
to remain growing at the rate of 30-32 per cent at over
$16.3 billion. The total revenues of the software and
services sector, including that of the domestic market
rose 28.2 per cent to $15.9 billion in 2003-04, compared
with $12.4 billion in the previous fiscal.
Exports registered a 30.5 per cent growth in 2003-04 at
$12.5 billion, compared with $9.6 billion in the previous
fiscal. The IT services sector recorded a healthy growth
of 25 per cent to $8.9 billion in 2003-04, against $7.1
billion in 2002-03.
The ITES-BPO sector saw a growth of 46 per cent adding
approximately 70,000 jobs. In 2003-04, the ITES-BPO industry
added 65,000 jobs, while in software and services sector
40,000 jobs were created totalling more than a lakh jobs.
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International
Herald Tribune launched in India
Hyderabad:
International Herald Tribune, is now available in Hyderabad
at Rs30 per copy. However it is not an Indian edition
of one of the most popular newspaper from the New York
Times fold that has 27 editions worldwide. Instead, it
is an Indian newspaper with articles sourced from various
places, including news agencies and the International
Herald Tribune.
The Hyderabad paper will not have too much news from International
Herald Tribune also as government rules lay down that
syndicated material cannot exceed 7.5 per cent of the
total editorial content in a newspaper. Anything above
that needs specific clearance. The paper is being printed
and published by T Venkat Ram Reddy on behalf of Midram
Publications Ltd. Reddy is also the proprietor of Deccan
Chronicle. MJ Akbar, the editor-in-chief of The
Asian Age and editor of Deccan Chronicle, is
also the editor of the new newspaper. On
on average some 20,000 copies are being printed daily.
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AI
staff, Left parties oppose move to privatise airports
Kolkata: The Left parties and the Airports Authority
Employees Union (AAEU) opposing the move to privatize
Mumbai and Delhi airports have taken to the street in
an 'anti-airport privatisation' move. The CPI (M) Polit
Bureau Member, Sitaram Yechury, said the CPI( M) is opposed
to privatisation of profit-making public sector undertakings
(PSUs) as stated in the common minimum programme (CMP).
He said the Government should take the workers and managements
of AAI into confidence before deciding anything on the
matter. The IAAI Officers Association, in a statement,
also opposed the move.
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India's
IT engine slowing down
The IT industry's results for the March 2004 quarter indicate
that the industry as a whole has not done particularly
well, even though front-line companies such as Infosys
and Wipro may have performed well . Although sales grew
over the December 2003 quarter, net profit showed a slight
dip. The operating profit margin of the sector was fairly
stable. However, other income for the sector suffered
a setback. Results for March 2004, when compared year-on-year,
looked decent, partly because the corresponding quarter
in March 2003 had been a particularly bad one for the
IT industry.
Net profits were up 45 per cent, compared with the corresponding
quarter last year, while sales were up 22 per cent. The
stand-alone results of the companies were taken into account,
when carrying out the analysis. The sequential increase
(increase over the immediate previous quarter) of sales
for the IT sector was at Rs7,063 crore for the quarter
ended March 2004, 7 per cent, lower than the 10 per cent
increase for the quarter ended December 2003. Sales for
the quarter ended March 2003 had grown just 3 per cent
on a quarterly basis.
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