RBI dy. governor forecasts GDS of 32 per cent in 3-5 years
Hyderabad: According to the deputy governor of Reserve Bank of India, Rakesh Mohan, India's gross domestic savings (GDS) rate is expected to increase to around 32 per cent in the next 3-5 years vis-a-vis about 28 per cent now.

Mohan was addressing a joint conference on 'Indian economic sector reforms' held by the Centre for Analytical Finance, Indian School of Business and Stanford Centre for International Development (Stanford University), in Hyderabad.

Mohan said that, "although there was a downturn from 1997 to 2002, there has been a resurgence of the economy thereafter because of industrial restructuring," Mohan said.

T N Srinivasan, senior fellow, Stanford Centre for International Development, said there is a hiatus in the Indian economic reforms process. "The reform process has stalled. We have to move away from protectionism and need to open up the economy further to external competition. We need to attract larger inflows of foreign direct investment even in the manufacturing sector," he added.
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IT exports to grow by 32 per cent
New Delhi: Exports from the Indian Information Technology (IT) sector are expected to touch the Rs1,00,000-crore mark in March 2006, compared with Rs78,230 crore in 2004-05, clocking a 32 per cent growth rate.

The hardware sector, however, is expected to grow by a mere 15 per cent to cross the Rs10,000-crore milestone in export revenue by March 2006 against Rs8,750 crore in 2004-05.

On the domestic production front, IT and electronics together are expected to touch Rs1,90,000-crore revenue in 2005-06, compared with Rs1,47,610 crore last year, registering a growth of 29 per cent.

Taken together, domestic production revenues of the IT and electronics sector are estimated to grow by 29 per cent to Rs1,90,000 crore by March 2006 according to senior government officials.

Further the IT industry is likely to increase its employee strength to 1.3 million by March 2006 against 1.045 million in March 2005.
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