India’s information technology industry expects strong growth in software exports, and in the domestic market for both hardware and software. Industry experts say that software exports might rise by 50% in 1998-99 (April-March), from $1.75bn in 1997-98. The budget is extremely encouraging for the IT industry as it promotes domestic manufacture of computers, promotes investment in software, and encourages more people to join the software industry, said Vijay Thadani, chief executive officer of computer training and services firm, NIIT Ltd. India’s federal budget for 1998-99, announced on June 1, removed import duty on all computer software, reduced duty to 30% from 40% on telecom software, allowed US dollar stock options to the staff of Indian firms listed overseas, and cut import duties on a range of computer hardware and peripherals by between three and seven%.
