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During 1999, an interesting survey revealed that out of the top 25 E-Commerce companies in India, 18 were already making profits, besides growing annually by more than 500 percent. Many of them have been funded by angel investors - venture capitalists and many of them are determined to go in for international IPOs over the next 3 years. There has been a steady inflow of international venture capitalists eager to invest in the innovative ideas being conceived by young software entrepreneurs in India. Industry experts believe that the Internet, although is just about 39 million users strong (August 2005) in India, has the potential to explode to 70 million by the year 2007, once internet connections are available on cable-spreads across India, and will position India as a global hub for content development and e-commerce. Now, more and more of Indian software houses have started providing web based applications and services. That the Internet is becoming an integral part of the Indian software business is also evident from its use alongside that of high-speed satellite connectivity for software development and delivery. The delivery through high-speed connectivity has been a successful factor for globalisation of the Indian software industry. In the year 1999-2000, internet and E-Commerce related software and services exports from India constituted US $ 340 million out of estimated US $ 3.9 billion of software exports from India. NASSCOM on 3rd July 2000 said that exports of e-commerce solutions is expected to rise to $1.4 billion in the current year from $500 million last year. |
Fast Facts: - Out of India's top 25 E-commerce companies, 18 are profitable. - Internet users in India are at 39 million by August 2005. - E-Commerce related exports will be US $ 1 billion (est.) of total software exports from India in 2002. |
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