IT, ITeS to go beyond $300 bn by 2020: Sachin Pilot

The demand for Indian IT and IT-enabled Services (ITeS) sector will cross the $300 bn mark by 2020, said Sachin Pilot, Union Minister of state for IT and Communications.

"IT sector is contributing about 8% of the GDP. We crossed $100 bn mark. We are looking to cross 300 bn of IT and ITeS exports by 2020," Pilot said during an inaugural address at the 2nd annual summit of 'Advantage AP' in Hyderabad.

He added that the country also has opportunities in hardware and electronics sector which currently has a demand of $50 bn. "In 8 years time from now, the demand will be $400 bn. That will be more than the oil import bill of this country," he ads. He went on to say, I see no reason why we cant become a manufacturing hub. We can also become a global supplier of electronics.

Pilot says, "I am here to reiterate the fact that in the next two to three years, India will have an IT infrastructure that will be second to none in the world. We are going to light up every single Panchayat in this country with optical fiber.' At the event, N Kiran Kumar Reddy, chief minister, Andhra Pradesh unveiled the state's 'Electronics and Hardware Policy 2012-17'.