Dubai: Indian software industry is targeting the Middle East market as it seeks to raise the Information Technology exports from $ eight billion last year to $ 50 billion in 2008.

Launching a road show of Indiasoft 2003, an international exposition of small and medium Indian software companies to be held from February 21 to 23 in New Delhi, Deepak Puri, chairman of the organising body said Indian software exports currently depended mainly on the US and Europe.

"Sixty five per cent of current exports are to the United States, 25 per cent to Europe and only 10 per cent to rest of the world," Puri, chairman of the Electronics And Computer Software Export Promotion Council (ESC), told a gathering of businessmen, making a strong pitch for outsourcing software needs for the region from india, particularly from small and medium companies with core strengths in the sector.

He said 255 of the fortune 500 companies in the world outsourced their software requirements from India, which will soon make a foray into the hardware sector as well.

In his presentation to the Indian Business Council Dubai, Puri said Indiasoft, showcasing more than 250 small and medium Indian software developers, will offer an array of partners for the small and medium business from Dubai for sourcing software solutions at substantially lower costs.

Indiasoft is being organised by ESC with the support of ministry of communication as well as commerce. Gujarat and Punjab have been enlisted as partner states to the show, expected to draw participation from Europe, the US, Australia, the Middle East and the far East.

PTI