Flat growth in electronics, IT exports: ESC
Industry body ESC on Tuesday said exports of electronics hardware and computer software are estimated to have logged ‘flat to marginal growth’ in 2020-21, and that growth could be moderate for the first quarter of 2021-22 given the Covid-19 situation.
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New Delhi: Industry body ESC on Tuesday said exports of electronics hardware and computer software are estimated to have logged 'flat to marginal growth' in 2020-21, and that growth could be moderate for the first quarter of 2021-22 given the Covid-19 situation.
For 2019-20, member companies comprising both software and electronics hardware segments registered about $157 billion in exports, Sandeep Narula, chairman of Electronics and Computer Software Export Promotion Council (ESC) said.
Of this, about $145 billion was from software exports, and $12 billion from the hardware segment. "The final numbers for 2020-21 will be coming out soon but based on the initial figures available we are expecting almost flat to marginal growth for electronics hardware and computer software exports. So, we were close to the expected targets for 2020-21, despite the pandemic," Narula added.
ESC said its member companies had been quick to lay down processes to enable work-from-home, as the pandemic drove offshoring.
