Exports from STPI units seen at over Rs 5 lakh crore in FY22 despite Omicron wave

The surge in COVID cases driven by the fast-spreading Omicron variant is not expected to disrupt the performance of units registered under the STPI scheme with proven remote working protocols already in place, according to a top official. The value of software exports from the Software Technology Parks of India units is expected to be at over Rs 5 lakh crore during FY22, almost similar levels or a tad higher than the previous year, Arvind Kumar, Director General of STPI said.

The safety protocols activated during the previous waves of COVID have resulted in the adoption of an effective remote working model, and the digital nature of work has enabled STPI units to maintain continuity of services without disruption.

The value of software exports from units registered under the STPI scheme is expected to be a little over Rs 5 lakh crore during FY22, against nearly Rs 4.96 lakh crore in FY21, Kumar said.

“We will not fall short of the levels achieved in FY21, given that remote working model has matured and is proven. All the enabling provisions for work from home are already in place, and online approval procedure is ongoing,” Kumar told PTI.

Hence, the rising cases of Omicron in the country are not expected to disrupt the performance or business of these software units, he added.

As many as 4,689 units are registered under the SPTI scheme.

Software Technology Parks of India or STPI is an autonomous body under the Ministry of Electronics and Information Technology (MeitY) set up to encourage, promote and boost software exports from India.

STPI aims to fuel a culture of tech entrepreneurship and innovation in the country by launching 25-plus Centres of Entrepreneurship in emerging technology domains.

It is one of the largest tech incubators in India with an area of about 13 lakh square feet spread across various Tier 1/2/3 cities. It is also assisting in the formulation of India BPO Promotion Scheme 2.0. Also, to strengthen the electronics sector STPI has undertaken a rolling out of the Electronics Manufacturing Clusters (EMC 2.0) Scheme.

It has been working with a focus for promotion of IT and IT-enabled services exports from the country by providing single window regulatory services under STP and Electronic Hardware Technology Park (EHTP) schemes, plug and play incubation facilities for the start-up companies and young entrepreneurs as well as high-speed data communication services for seamless access for offshore IT/ITES exports.