McKinsey -NASSCOM study: IT, IteS exports to touch $119 billion
New Delhi: According to a McKinsey-NASSCOM study, Indian information technology and IT-enabled services exports will rise to $119 billion by 2012.

The study expects IT services exports to touch $55 billion by 2012 and ITeS exports to rise to $64 billion.

The study says that about 9,72,000 professionals will be employed by IT services export industry and ITeS exports will provide jobs to 2,23,2000 persons. Among IT exports services the biggest growth in revenues will be witnessed in consulting, integration and installation, which will touch $24 billion by 2012 from $0.5 billion in 2002.

According to the study, exports of IT development services will grow from $3.2 billion in 2002 to $10 billion by 2012 and employ 1,11,000 workers. It also says that outsourced support business will grow from $1.8 billion in 2002 to $18 billion in 2012. Training and education exports will be a $3 billion industry by 2012 and will employ 58,000 people.

As far as outsourcing of human resource functions to India is concerned it will show maximum growth in the ITeS segment and will grow to $18.8 billion by 2012 engaging 6,90,000 professionals. Content development business will grow from $0.5 billion in 2002 to $4.3 billion in 2012 and will provide jobs to 1,97,000 people.

The study also predicts that outsourcing of administration functions to India will grow from $0.2 billon in 2002 to $2.6 billion in 2012, employing 1,47,000 professionals.
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CII: Higher investments in Indian industry
New Delhi: The Confederation of Indian Industry (CII) says that the Indian industry is witnessing an upturn in the investment cycle with manufacturing and services sector driving the growth.
It says that while the automotive industry has the potential of growing at a rate of 10 per cent or more per year, the auto component industry can also grow at 10-15 per cent per year, during the next decade.

Massive investments are also flowing into sectors like cement, iron and steel, and paper. The auto component industry recorded exports worth $1 billion last year, and according to a McKinsey study, this figure could reach $30-40 billion in the next 10 years.
Among the services sectors, healthcare is witnessing significant growth mainly because of the capacity in providing quality healthcare at affordable rates.
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Oilmeal exports jump 260 per cent during April-August
Mumbai: EXPORTS of oilmeal during April to August 2004 increased to 12,40,236 tonnes from 3,43,900 tonnes in the same period of last year, up by 8,43,900 tonnes or nearly 260 per cent thanks to good demand from South East Asia and China.

The total export of oilmeal during the nine months of the current oil year (November 2003 to August 2004) increased to 40,38,036 tonnes as against 16,13,400 tonnes, up by nearly 150 per cent, according to data complied by the Solvent Extractors' Association of India (SEA).
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