New Delhi, July 28: Indian IT industry grew by 19 per cent to 15.3 billion dollar in 2002-03 on the back of a domestic market turnaround and buoyancy in it services sector, according to the an annual industry review by a software magazine. Software exports contributed 64 per cent of the overall revenue at 9.8 billion dollar with an year-on-year growth of 26 per cent and a nine per cent growth by the domestic IT industry contributing Rs 5.5 billion dollar, the review said here today.
The domestic IT industry contributed the remaining 36 per cent to the overall revenue.
In 2001-02, the IT industry grew by 14 per cent. IT training was the was worst hit of all segments registering a negative growth of 23 per cent and a revenue of Rs 1215 crore. The sector had registered a negative growth of 37 per cent last year.
"At the end of yet another year of pressure and tough decisions, the Indian IT industry showed a sluggish growth rate of 19 per cent to 15.3 billion dollar in 2002-03," the review said.
Despite efforts to enter other geographies like EU and Asia Pacific, Indian IT`s reliance on US increased to 67 per cent from 64 per cent. Bureau Report