A significant 72 percent of growth from IT exports had been observed in spite of recession from the SME IT firms of Gujarat. A surge in exports of software and hardware products was observed from the small-scale IT companies in Gujarat even during recession period. There had been a stable growth in the IT exports for the companies in the state.
The revenues from the IT shipments which was Rs. 740 crore in 2007-08 rose to Rs. 1,270 crore in Gujarat. This is known from the report of Software Technology Park of India (STPI). A continuous flow of orders was observed for the Indian SMEs during recession time also.
The IT exports, according to the STPI, crossed Rs. 1000 crore during April-December 2009-10. The large and small IT companies flourished even at that time where western markets were still in the economic slowdown. Mass availability of technologically skilled manpower, helpful business environment, and massive infrastructure facilities enhance the small IT companies in Gujarat after the high growth during recession.