HYDERABAD: Buoyed by the significant jump in software exports from the State, the Software Technology Parks of India (STPI) Hyderabad is targeting Rs. 18,000 crores (approximately US $ 4 billion) exports from the State for the current year.

The State continued its previous record of achieving highest growth rate registering total exports to the tune of Rs. 12,521 crores during the year, marking a 51 per cent growth against the national average of 36 per cent. The current exports take the State's share to 12.5 per cent of the total exports of Rs. 1 lakh crores achieved across the country.

Air of optimism

The STPI is hopeful that the State will go past Mumbai and Chennai in terms of exports if the current growth rate in the exports continues over the next few years.

Addressing a press conference here on Saturday, the STPI Hyderabad and Bangalore director, B.V. Naidu, said the IT investments during the year was Rs. 1,760 crores, including Rs. 768 crores from foreign companies, Rs. 147 crores from domestic companies and Rs. 845 crores in IT parks.

In all, 173 new companies were added during the year, including MNCs like Amazon, Verizon, Progress Software and Ikanos.

There was high synergy between Hyderabad and Bangalore in terms of the interest being evinced by the entrepreneurs. But, there was a need to facilitate the growth of small and medium enterprises which were not able to progress at the required pace.

Incubation centres

On the STPI initiatives, he said efforts were under way to establish incubation centres in Hyderabad, Visakhaptnam, Tirupati and Kakinada besides steps like setting up a trade net portal, international consultancy and expediting joint venture project with MTNL for India.in portal.

State IT Secretary K. Ratna Prabha said the Government's efforts to promote the industry were paying results. But, the STPI should target 100 per cent growth in the coming years to ensure that the State matched Bangalore in exports.

IT advisor to the Government C.S. Rao spoke.

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