India's net software exports down to 10-year low

The higher risk aversion by the Western outsourcing clients has impacted India's software receipts in the 12 months to June 2012. According to the latest trade data from the Reserve Bank of India (RBI), net software exports grew at the slowest rate of 4% in the last 10 years.

Net software exports, calculated as the difference between software receipts and payments, were $61.5 billion (approximately Rs 3.1 lakh crore) in the 12 months to June 2012 compared with $58.9 billion (approximately 2.7 lakh crore) in the prior 12-month period.

The growth in the latest 12 months period to June 2012 lags behind the growth seen during the subprime period four years ago.

The last time net exports growth fell to single digits was in the four quarters to June 2009, which encompassed the financial crisis in the West. Net exports had risen by 6.4% on year-on-year basis during the period as large financial institutions, which are major consumers of Indian IT services, were forced to cut technology budgets to curtail the impact of subprime debt default.

Source: Agencies

58 new space missions for ISRO

ISRO plans to launch 58 space missions, including sending spacecraft to moon and Mars, an exclusive satellite to keep a round-the-clock watch on the country and deploy 500 transponders in the next five years. 

The space agency also aims to deploy its own version of the Global Positioning System by putting into orbit a constellation of seven satellites which would form the Indian Regional Navigational Satellite System (IRNSS). 

According to the 12th Five Year Plan, approved by the Cabinet last week, the Indian Space Research Organisation plans to add 400 transponders to the existing 187 to meet the growing demand from DTH operators, satellite mobile communications and new generation broadband VSAT systems. 

An indicative plan outlay of Rs 39,750 crore for the 12th Plan has been made for the Department of Space. 

"Overall, 58 missions are planned for realisation during 12th Plan period which includes 33 satellite missions and 25 launch vehicle missions," the 12th Plan document says. 

The space agency is also designing a special 'eye-in-the- sky' -- Geo-Imaging Satellite or GISAT --- to be stationed 36,000 km above to maintain round-the-clock vigil and assist state authorities to tackle natural disasters, floods and forest fires and keep a watch over the country's sensitive borders. 

Missions initiated in the 11th Plan like Chandrayaan-II, Astrosat-1 and Aditya-1 are also expected to set forth on their respective destinations into space over the next five years. 

As part of Chandrayaan-II, ISRO plans to land a rover on the lunar surface and put a satellite in an orbit around the moon. The mission is expected to be launched in 2014.

Source: Agencies