Bangalore: India's IT exports for the current financial year (2002-03) is likely to be lower by two to three per cent in value terms from the projected 30 per cent in view of the US Dollar depreciation, according to (National Association of Software and Services Companies) NASSCOM.

NASSCOM president Kiran Karnik told reporters on March 21 that in volume terms, India was definitely set to meet the projection but in value terms it was likely to be two to three per cent lower because of the currency situation.

Noting that IT exports in the first three quarters (April-December 2002) have been 28 per cent, he said the ongoing Q4 is good and okay. "We are comfortable with the projection except two or three per cent here and there in value terms," he commented.

Earlier, addressing "Sun Tech Days 2003", a developer conference organised by Sun Microsystems, Karnik asserted that the goal to make the size of the Indian IT industry to be a $ 75 billion one by 2008, though seems ambitious and difficult, was realisable in view of huge human resources pool.

However, he emphasised the need for enhanced focus on embedded software, Research & Development services, chip design and IPRs, and said NASSCOM would work towards creating an enabling environment for innovation, especially for small companies, start-ups and individuals.

PTI