Export growth in April-May touches 29.6%
Boston Software plans public issue

 
 
EXPORT GROWTH IN APRIL-MAY TOUCHES 29.6% 
 
 
FROM OUR CORRESPONDENT
 
New Delhi, July 1 
India’s export during April-May 2000 recorded a growth rate of about 29.57 per cent with an estimated exports of $ 6.87 billion. Exports stood at $5.30 billion exports in the first two months of the previous financial year.

According to the latest monthly trade data released today, the trade deficit continued to be high at $ 2.1 billion in the first two months of this fiscal as against mere $ 1.2 billion in the corresponding period last year.

During May this year, exports were valued at $ 3.4 billion which was a growth of 30.23 per cent compared with $ 2.6 billion in May 1999. In April this year the growth was around 30 per cent.

In rupee terms exports in April-May this year stood at Rs 30,092.47 crore which was 32.79 per cent higher than the corresponding period in the previous year. In May this year, the year-on-year growth in rupee terms was 33.92 per cent at Rs 15,156.55 crore.

The growth in country’s imports was higher than exports in the first two months. It recorded a growth of 36.7 per cent and stood at $ 9 billion over $ 6.6 billion worth of imports in April-May 1999.

This growth in imports is mainly attributed to huge oil imports during April-May 2000 which were valued at $ 2.6 billion, recording a 110 per cent growth over $ 1.25 billion in April-May 1999.

Non-oil imports, however, did not grow in the same manner. In the first two months of the current fiscal, non-oil imports was $ 6.4 billion which is a mere 19.49 per cent growth compared with $ 5.3 billion imported in April-May 1999.

Imports during May 2000 are valued at $ 4.47 billion representing a growth of 31.45 per cent over $ 3.4 billion in May 1999. In rupee terms the imports increased by 35.17 per cent signalling spurt in industrial activities.    


 
 
BOSTON SOFTWARE PLANS PUBLIC ISSUE 
 
 
BY A STAFF REPORTER
 
Calcutta, July 1 
Boston Education and Software Technologies Ltd (BESTL) is planning to come out with a public issue this year. The company, which has an equity base of Rs 4.67 crore, is also in the process of acquiring Infinity, a US-based software development company.

Dipankar Mukhopadhyay, managing director BESTL, said that the company is awaiting the Reserve Bank of India’s approval for the foreign acquisition. “We hope to get the RBI approval within two weeks,” he said. However, Mukhopadhyay refused to divulge the cost of acquisition. The company is currently working out the issue details.

In the 2000-01 fiscal, the company intends to establish itself as a national player in high-end software career education and consolidate its position as the largest provider of children’s software education through the cyberkids division. Further, the company plans to emphasise on software development and exports and has floated Nexus Infotech, a 100 per cent software export-oriented subsidiary.

BESTL has a strong presence in western and northern India as far as their career education programme is concerned. The company is now looking at the east and will initially open three branches in Calcutta and then expand its network to Bihar and Orissa.    

 

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