Kochi: India's vibrant IT software and services industry has been projected to touch an export potential of $ 57 to 65 billion by 2008 and efforts would be made to further increase and broad base exports, besides expanding domestic market, Union Minister of State for Communications and IT, Dr Shaqeel Ahmed, said today (Dec 11, 204).

Information Technology has given India formidable brand equity in the global markets. Tremendous growth in software exports, which have risen from Rs 250 crore in 1991 to Rs 59,500 crore in 2003-04, shows the country's capacity and potential, the Minister said, inaugurating an international seminar in Kochi on 'Global Competitiveness of Corporate India-Strategic Challenges'.

Most of the global players have set up offshore facilities in India, which are growing by leaps and bounds and the country has also emerged as a BPO destination, the Minister said. "Through a policy of sustained R&D in cutting edge technology, we hope to further increase and broad base our exports, while also expanding the domestic market," he added.

Recognising the potential of e-governance to improve governance and help people access Government services, the UPA (United Progressive Alliance) Government was working on a National e-governance action plan, he said.