Bangalore: India's booming software industry sees no reason to revise the projected $50 billion exports from the sector by 2008 in the wake of conservative revenue growth forecast by IT majors and said it is anticipating new opportunities to tap to reach the target.

Chairman of the National Association of Software and Service Companies (NASSCOM) Som Mittal said in Bangalore on April 24, though software companies' growth numbers are down, primarily because of appreciation of Rupee vis-à-vis USD, growth trends have not changed.

"At the moment, we don't see any reason to revise the $50 billion mark (NASSCOM-McKinsey study). New opportunities will come.....we have not identified it....but we are working on it," Mittal told reporters on the sidelines of a function.

He stressed that the growth trends for India's software industry have not changed.

IT majors like Infosys Technologies Limited and Wipro Limited earlier this month came out with conservative revenue growth projections for 2003-04.

Mittal said India's software exports growth for 2002-03 are down by two to three per cent compared to the previous year's figures on account of the currency situation.

Earlier, addressing a NASSCOM meet on India South Africa Cooperation in ICT, Mittal said India exports software to over 102 countries and one of the four global giants outsourced their software requirements to India and the remaining three are actively looking at the country.

PTI