IT SECTOR (1)

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    PREPARED BY :

    GPTAIE Presentation on

    Information Technology

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    OVERVIEW OF ITINDUSTRY

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    y IT is "the acquisition, processing, storage and dissemination of vocal,pictorial, textual and numerical information by a microelectronics-basedcombination of computing and telecommunications.

    y Information Technology has made possible information access at gigabit

    speeds.

    y Worldwide IT services revenue totaled $763 billion in 2009.

    y Indian information technology (IT) industry has played a key role inputting India on the global map.

    y According to NASSCOM, the IT-BPO industry is estimated to aggregaterevenues of US$ 73.1 billion in FY2010, with the IT software and servicesindustry accounting for US$ 63.7 billion of revenues.

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    y IT services is expected to grow by 2.4 per cent in 2010, and 4.2 per centin 2011 as companies coming out of recession harness the need forinformation technology to create competitive advantage.

    y The data centre services market in the country is forecast to gow at acompound annual growth rate (CAGR) of 22.7 per cent between 2009and 2011, to touch close to US$ 2.2 billion by the end of 2011

    y India is a preferred destination for companies looking to offshore theirIT and back-office functions.

    y The competitive edge of Indias IT capabilities is well recognizedglobally. Both hardware and software sectors have made importantstrides in the past one decade. It is evident that the movement up thevalue chain in product design, involving integration of both hardwareand software, commonly known as embedded technology, will trulybe to the advantage of India and the global IT industry.

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    ITITES Industry RevenueTrends

    (inbillionUSD)Source : NASSCOM

    Year/

    Item

    01-

    02

    02-

    03

    03-

    04

    04-

    05

    05-

    06

    06-

    07

    07-

    08

    08-

    09

    CAG

    R

    IT/I

    TeS

    Expo

    rts

    7.6 9.5 12.9 17.7 23.6 31.1 40.4 46.3 28.6

    IT/I

    TeSDom

    estic

    2.6 3.0 3.8 4.8 6.7 8.2 11.7 12.4 22.2

    Total 10.2 12.5 16.7 22.5 30.3 39.3 52.0 58.7 26.9

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    IT INDUSTRY STRUCTURE

    y TheindustrystructureintheITsectorhasfour

    majorcategories.Theseare

    IT services

    IT enabled services

    Software products

    Hardware

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    PRODUCTION CENTRES& TOP IT HUBS IN INDIA

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    CHENNAI

    HYDERABAD

    DELHI

    PUNE

    BANGLORE

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    TOP IT HUBS IN INDIA

    RANK

    REGIO

    N/C

    ITY DESCR

    IP

    TIO

    N1. Bangalore Is leading in IT Industries in India

    2. Chennai second largest exporter of Software

    3. Hyderabad Because of good infrastructure and good

    government support it is also a good technologybase in India

    4. Pune hosts numerous multinational and national software

    giants along withBPO and KPO firms.

    5. Kolkata Is slowly becoming a major IT hub

    6. NCR Gurgaon,Noida,Fraidabad,Ghaziabad

    7. Mumbai TCS, Patni, LnT Infotech, I-Flex WNS etc. are

    headquartered here.

    8. Bhubaneshwar one of the emerging IT City in India

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    DOMESTIC INDUSTRY

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    DOMESTIC INDUSTY

    y The market for enterprise networking equipment in India is estimated

    to grow from US$ 1 billion in 2008 to US$ 1.7 billion by 2012, recording

    a compounded annual growth rate (CAGR) of 15 per cent during this

    period.

    y The Indian Information Technology industry accounts for a 5.19% of

    the country's GDP and export earnings as of 2009

    y More than 2.3 million people are employed in the sector either directly

    or indirectly, making it one of the biggest job creators in India and amainstay of the national economy.

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    DOMESTIC MARKET

    Year/Item 01-

    02

    02-

    03

    03-

    04

    04-

    05

    05-

    06

    06-

    07

    07-

    08

    08-

    09

    CAGR

    IT Service 2.1 2.4 3.1 3.5 4.5 5.5 7.9 8.3 19.5

    ITeS-BPO 0.1 0.2 0.3 0.6 0.9 1.1 1.6 1.9 44.5

    S

    /WP

    roducts,

    Engineering

    Services

    0.4 0.4 0.4 0.7 1.3 1.6 2.2 2.2 23.7

    TotalIT/ITeS 2.6 3.0 3.8 4.8 6.7 8.2 11.

    7

    12.4 22.2

    Domestic RevenueTrendsinIT ITES (inbnUSD)Source : NASSCOM

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    Domestic Revenue Segmentation(08-09) in (billion USD)

    IT Services

    ITeS-BPO

    S/W Products &

    Engineering

    Services

    Hardware

    Source:www.ibef.org

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    TRENDS IN EXPORT

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    y The Indian IT and ITeS-BPO segment plays an important role in the Indianeconomy.

    y In FY07, its exports constituted around 38.5% of the total service exports.

    y The export market is a major segment for the IT and ITeS-BPO segment, as theycontributed as much as 65.5% to the total industry revenues in FY07.

    y Out of these exports, IT services had a significant share of 57%, followed by ITeS-BPO at 26.8%. Moreover, during FY03-07 these exports grew at a CAGR ofaround 33.7%

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    Contd

    y The IT services robust growth can be largely attributed to customapplication development (CAD), which has a 45% share in total IT servicesexports.

    y During FY03-07, these exports grew at a CAGRof 34.5% at US$ 18 billion.

    y Similarly, the ITeS-BPO segments performance could be attributed to thegrowing BPO verticals such as finance and accounting, customerinteraction services and human resource administration.

    y During FY03-07, this segment grew at a CAGR of 35.4%. In FY07, theremaining export segments engineering services, R&D and softwareproducts also registered a substantial growth at US$4.9 billion,recording a CAGRof 34.4%.

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    YEAR 2004-2005

    2005-2006

    2006-2007

    2007-2008

    2009-2010

    Indias

    total

    Exports

    83535.94 103090.5 126414.1 163132.2 185295.4

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    DOCUMENTS OF TITLE CONVEYING THE RIGHT TO USE INFORMATIONDOCUMENTS OF TITLE CONVEYING THE RIGHT TO USE INFORMATION

    TECHNOLOGY SOFTWARETECHNOLOGY SOFTWARE

    HS code: 49070030HS code: 49070030

    0.16 0.01 0.06 0.021.59

    6.626.02

    01

    234567

    Trend In Export(HS Code : 49070030)

    Export (US $ Million)

    Year 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10

    2010-11(Apr-Jun)

    Export (US $

    Million) 0.16 0.01 0.06 0.02 1.59 6.62 6.02

    http://commerce.nic.in/eidb/ecomcnt.asp

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    DOCUMENTS OF TITLE CONVEYING THE RIGHT TO USEDOCUMENTS OF TITLE CONVEYING THE RIGHT TO USE

    INFORMATION TECHNOLOGY SOFTWAREINFORMATION TECHNOLOGY SOFTWARE

    HS code: 49070030HS code: 49070030

    0

    0.0020.004

    0.006

    0.008

    0.01

    0.012

    Percentage share

    Percentage share

    Year 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11(Apr-Jun)

    Percentage

    share 0.0002 0 0 0 0.0009 0.0037 0.0114

    http://commerce.nic.in/eidb/ecomcnt.asp

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    DISCS WITH INFORMATION TECHNOLOGY SOFTWAREDISCS WITH INFORMATION TECHNOLOGY SOFTWARE

    Hs Code: 85243111Hs Code: 85243111

    7.44

    31.51

    8.415.07

    0

    10

    20

    30

    40

    2004-05 2005-06 2006-07 2007-08

    Trends in Export(Hs Code: 85243111)

    US $ Million

    Year 2004-05 2005-06 2006-07 2007-08

    US $ Million 7.44 31.51 8.41 5.07

    http://commerce.nic.in/eidb/ecomcnt.asp

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    DISCS WITH INFORMATION TECHNOLOGY SOFTWAREDISCS WITH INFORMATION TECHNOLOGY SOFTWARE

    Hs Code: 85243111Hs Code: 85243111

    0.0089

    0.0306

    0.00670.0031

    0

    0.005

    0.01

    0.015

    0.02

    0.025

    0.03

    0.035

    2004-05 2005-06 2006-07 2007-08

    %Share

    %Share

    Year 2004-05 2005-06 2006-07 2007-08

    %Share 0.0089 0.0306 0.0067 0.0031

    There is no data regarding 2008-09,2009-10

    http://commerce.nic.in/eidb/ecomcnt.asp

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    MAJOR EXPORTDESTINATIONS

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    MAJOR EXPORT DESTINATIONSAND THEIR EXPORT SHARES

    y USA & UK continues to be major markets for the IT software andservices exports.

    y However the share of USA has declined from 68.3 per cent in FY2005 to

    60 per cent in FY2008, whereas that of Europe has increased from 23.1per cent to 31 per cent over the same period.

    y Markets across Continental Europe and the Asia Pacific are alsowitnessing significant year-on-year growth.

    y This trend towards a broader geographic market exposure is positive forthe industry, not only as de-risking measure but also as a means ofaccelerating growth by tapping new markets.

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    MARKETS FY 05 FY 06 FY 07 FY 08

    Americas 68.30% 67.18% 61.40% 60%

    Europe

    (inc.UK)

    23.10% 25.13% 30.10% 31%

    Restoftheworld

    8.60% 7.69% 8.50% 9%

    y Source : http://www.mit.gov.in/content/export-destinations

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    COMPUTER SOFTWARE/SERVICES (2008-

    09)

    58.42%30.50%

    3.00%2.85%

    1.70%1.20%

    1.10%1.00% 0.15%

    0.08%

    North America

    (58.42)Europe(EU

    countries)(30.5%)

    Middle East (3.00%)

    SG, HK, And SA

    Countries(2.85%)Austrailia and OCEA

    NC(1.7%)Japan Korea(1.20%)

    Europe (Non-EU

    countires) (1.1%)African

    Countries(1.00%)

    Source: www.escindia.com

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    MAJOR EXPORT DESTINATIONS FORELECTRONIC HARDWARE (2008-09)

    y Singapore, Hong Kong and other South East Asian countrieswhich was at the 3rd position during the year 2007-08 hasemerged to be the top destination for Indias ElectronicsHardware exports during the year 2008-09 Export to thisregions registered a growth of 175 percent (141 percent in US$terms) during the year 2008-09 over the year 2007-08.

    y Share of export to EU countries has come down from 28.55percent estimated in 2007-08 to 23.88 percent in 2008-09

    y Export to Middle East countries also registered a high growth of179.53 percent (145 percent in US$ terms) during the year 2008-09 over the year 2007-08.

    y In value terms the export of electronics hardware to middle eastcountries during 2008-09 is estimated to be Rs. 4625 crore (US$1006 million) up from Rs. 1655 crore (US$ 411 million) estimatedin 2007-08

    y Middle East countries which was at a 4th position during theyear 2007-08 gained the 3rd position during the year 2008-09.

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    Major Exporter of Electronic Hardware

    y The State of Tamil Nadu has become the top exporter ofElectronics Hardware during the year 2008-09.

    y Export from Tamil Nadu accounts for a share of 42.27percent in Indias total electronics hardware exports.

    y The other major States contributing to Indias export ofElectronics Hardware are:-

    Karnataka, (19.86 percent),

    Uttar Pradesh (14.45 percent), and

    Maharashtra (13.13 percent).

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    EXPORT FROM INDIA FOR

    LAST THREE YEARS

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    Segment wise export Revenue from India

    USD Billion FY2005 FY2006 FY2007 FY2008 FY2009

    IT Services 13.5 17.8 23.3 31 35.2

    Exports 10 13.3 17.8 23.1 26.9

    Domestic 3.5 4.5 5.5 7.9 8.3

    BPO 5.2 7.2 9.5 12.5 14.8

    Exports 4.6 6.3 8.4 10.9 12.8

    Dome

    stic 0.6 0.9 1.1 1.6 1.9Engineering Servicesand

    R&D, software Products 3.8 5.3 6.5 8.6 9.5

    Exports 3.1 4 4.9 6.4 7.3

    Domestic 0.7 1.3 1.6 2.2 2.3

    Total Softwareand

    Services Revenue 22.5 30.3 39.3 52 59.6

    Of which, exports are 17.7 23.6 31.1 40.4 47

    Hardware 5.6 7.1 8.5 12 12.1

    Exports 0.5 0.6 0.5 0.5 0.3

    Domestic 5.1 6.5 8 11.5 11.8

    Total ITIndustry

    (includingHardware) 28.1 37.4 47.8 64 71.7

    Source: Nasscom

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    Software Exports

    0

    50,000

    100,000

    150,000

    200,000

    250,000

    2006-072007-08

    2008-09

    141,000 164,400

    216,300

    Total Exports in Rs. crores(U.S$)

    Total Exportsin Rs.crores(U.S$)

    2006-07 : US$ 31.1 billion2007-08 : US$ 40.4 billion2008-09 : US$ 47 billion

    Source: Ministry of Communication and Information Technology, Department of

    Information & Technology, Annual Report, 2008-09

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    Electronic Hardware And IT Exports

    Source: Ministry of Communication and Information

    Technology, Department of Information & Technology, AnnualReport, 2008-09

    7,700 8,000 9,625 12,500 13,200 19,000

    54,240

    80,180

    104,100

    141,000

    164,400

    216,300

    0

    50,000

    100,000

    150,000

    200,000

    250,000

    2003-04 2004-05 2005-06 2006-07 2007-08 2008-09

    Electronic Hardware Computer Software

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    Electronic Hardware And IT Exports

    YEAR 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09

    Electronic Hardware 7,700 8,000 9,625 12,500 13,200 19,000

    Computer Software 54,240 80,180 104,100 141,000 164,400 216,300

    Total Elect. And IT

    Exports 65,940 88,180 113,725 153,500 177,600 235,300

    TABLETABLE

    Source: Ministry of Communication and Information Technology,

    Department of Information & Technology, Annual Report, 2008-09

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    y

    HS

    CODE: 49070030

    S.No

    .

    Country Values inUS$ Million Values in US$ Million

    2008-2009 2009-2010

    1 U K 1.46 6.17

    2 BHUTAN 0.4

    3 U S A 0.12 0.05

    S.N

    o.

    Country Values inUS$ Million Values in US$ Million

    2007-2008 2008-2009

    1 U K 0 1.46

    2 U S A 0 0.12

    3 LITHUANIA 0.01

    HS CODE: 85243111

    S.

    No.

    Country Values in US$

    Million

    Quntity in

    thousands

    2007-2008 2008-2009

    1 ALGERIA 3.32

    2 U S A 0.47

    3 U K 0.29

    S.No

    .

    Country Values in US$Million

    Quntity inthousands

    2006-2007 2007-2008

    1 U S A 2.33 0.47

    2 MALAYSIA 1.79

    3 SINGAPORE 1.19 0.11

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    MAJORPLAYERS ININDIA

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    MAJOR PLAYERS IN INDIA

    y Tata Consultancy Services- Revenues of US$ 5.94 billion in200809, as compared to US$ 3.79 billion in 200708

    y Wipro Technologies Ltd.-Revenues of US$ 5.58 billion in 200809, recording a 12 per cent growth over revenues of US$ 4.96 billionin 200708

    y Infosys Technologies Ltd.- Revenues of US$ 4.40 billion in 200809, recording a 13 per cent growth over revenues of US$ 3.88 billionin 200708

    y Aditya Birla Minacs- Revenues of US$ 392 million in 200708,recording a 14 per cent growth over revenues of US$ 343 million in200607

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    MAJORMAJOR COMPETITORS INGLOBAL MARKET

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    HP ORACLE COGNIZANT MICROSOFT

    One of the largest IT

    firms in the world;

    founded in 1939

    Total revenues

    amounted to US$ 118

    billion in 200809.

    Workforce of morethan 321,000

    employees, operating

    from more than 170

    countries

    One of the largest

    software business

    companies in the

    world; has been

    operating for more

    than 30 yrs

    Recorded revenuesof more than US$ 23

    billion in 200809

    and was ranked the

    third-largest software

    company, based on

    its revenues.

    A leading provider

    of IT, consulting and

    IT infrastructure

    management

    Founded in 1994,

    revenues estimated at

    more US$ 3.25billion for08-09

    Workforce of more

    than 68,000

    employees in more

    than 50 delivery

    centres

    The worlds

    leading developer of

    software products

    and services

    Recorded revenues

    of more than US$ 58

    billion in 08-09Workforce of more

    than 93,000

    employees

    worldwide

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    DELL LENOVO ACCENTURE WNS

    A US based IT

    multinational that

    develops, sells and

    supports computers

    and related products

    and services.

    Employs more

    than 76,500 peopleworldwide

    Revenues of US$

    52.9 billion in

    200910 worldwide.

    AChina-based

    technology firm;

    develops and

    manufactures

    computers, laptops

    and other IT

    management

    software.

    Has global

    revenues of US$

    14.9 billion.

    More than 23,000

    employees world-

    wide.

    Global management

    consulting,

    technology services

    and outsourcing

    company

    Workforce of

    approx.177,000

    professionals servingclients in more than

    120 countries.

    Generated net

    revenues of US$

    21.58 bn in 0809.

    A leading global

    BPO company; more

    than 215 global

    clients ranging from

    multinational banks,

    consumer electronics

    firms.

    Ranked the second-largest BPO company

    in India by

    NASSCOM.

    Recorded more than

    US$ 386 million in

    revenues in 200809.

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    PROVISIONS IN INDIASPROVISIONS IN INDIAS

    FOREIGN TRADEPOLICYFOREIGN TRADEPOLICY

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    Export Promotion Schemes

    The Foreign Trade Policy 2009 - 2014 permits import of all kinds of

    computers (except second hand computers) in India without any licenses.

    Various schemes which include:

    y Export Oriented Units (EOUs) Scheme: The purpose of the scheme wasbasically to boost exports by creating additional production capacity.

    y Electronics Hardware Technology Parks (EHTPs): Electronics Hardware

    Technology Park (EHTP) complexes can be set up by the Central

    Government, State Government, Public or Private Sector Undertakingsor any combination thereof, duly approved by the Inter- Ministerial

    Standing Committee (IMSC) in the Ministry of Communication and

    Information Technology (Department of Information Technology).

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    Software Technology Parks (STPs): The Software Technology Parks of India(STPI) have been set up by the Ministry of Information Technology,Government of India and the International Technology Park in a joint projectby the State Government.

    Special Economic Zone (SEZ) Scheme: SEZs are being set up to enablehassle free manufacturing and trading for export purposes. Sales fromDomestic TariffArea (DTA) to SEZs are being treated as physical export. Thisentitles domestic suppliers to Drawback/ DEPB benefits, CST exemption andService Tax exemption. Certain exemptions like Income Tax exemption onexport profits is available to SEZ Units for5 years, 50% for next 2 years and50%

    of ploughed back profits for

    3years t

    hereafter are available for units inthese designated areas/zones.

    Export Promotion Capital Goods (EPCG) Scheme: The EPCG Schemeallows import of capital goods for pre-production, production andpostproduction (including CKD/SKD thereof) at 5% customs duty subject to

    export obligations.

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    Supplies of Information Technology Agreement (ITA-1) items and notified

    zero duty telecom/electronic items in the Domestic Tariff Area (DTA) by

    EOU/EHTP/STP/SEZ units are counted for the purpose of fulfillment of

    positive Net Foreign Exchange Earnings (NFE).

    IT- taskforce: As an initiating step, a high powered National Task Force on

    IT and Software Development was set up by the Prime Minister's Office

    on May 22, 1998, under the Chairmanship of the Deputy Chairman of

    Planning Commission. This taskforce has mandate to formulate the draft

    of a National InformaticsP

    olicy.

    Endorsement of the IT Act: which offers an authorized structure to assist

    electronic trade and electronic operations.

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    SpecialFocusInitiativesfor ElectronicsandITHardwareManufacturingareundertaken-

    y Expeditious clearance of approvals required from DGFT shall be ensured.

    y Exporters/Associations would be entitled to utilize MAI & MDA Schemesfor promoting Electronics and Hardware Manufacturing industry exports.

    y No FDI restrictions

    y Fiscal reforms (international taxation, overseas investment, etc.) tofacilitate ease of international transactions introduced.

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    QUALITY STANDARDSQUALITY STANDARDS

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    OTHER QUALITYMANAGEMENTSTANDARDS IN FOR IT SECTOR

    y ISO 90003 Software Quality ManagementStandard

    y ISO 27001 Information SecurityManagement Standard

    y ISO 27002 Information SecurityManagement Standard

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    PEOBLEMS/CHALLENGESPEOBLEMS/CHALLENGES

    FACED BY EXPORTERSFACED BY EXPORTERS

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    US economy slowing down - particularly the Banking and Insurance

    segments

    Failure to attract and retain top talent at all levels - Executive, Middle and

    Senior Management

    Bad media publicity - always showing the ill affects of working Poor perception by the job seeker

    Failure by the Companies to project 'careers' instead of 'jobs

    Government instability

    Lack of Incentives from the Government - sunset clause for STPI units

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    RELEVANT NEWSARTICLES

    TCS i b ki d l i h D h

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    TCS signs 10-year core banking deal with DeutscheBank

    Business Standard: December 15, 2010

    y Tata Consultancy Services (TCS), has signed a 10-year deal with DeutscheBank to replace its existing core banking solutions with TCS Bancs. Theimplementation will cover over30 countries.

    y The deal includes both product implementation and post-implementation

    services, including licence fee, annual maintenance fee and services fee,which would be higher than a typical IT services deal.

    y At present, Deutsche Bankhas a core banking set-up that is a legacy-basedsystem and uses multi-platforms. After this implementation, Deutsche Bankwill have a single-uniform core banking system (CBS) across its variouscentres.

    y Subramaniam, president TCS Financial Solutions,said with banking andfinancial services out of the slowdown, they were increasingly looking atsuch technology engagements as they renew focus on IT spending.

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    2010-11 software exports to rise 10% at Rs 2.6-lakh cr: MinisterThe Hindu Business Line: December 08, 2010

    y Bangalore accounts for36%; Hyderabad 14%.y New Delhi: Software exports would increase by 10.77 per cent in 2010-11 to

    touch Rs 2,61,200 crore,the Minister of State forCommerce and Industry, MrJyotiraditya M. Scindia said.

    y The Minister also said that Bangalore (Karnataka) accounted for themaximum percentage share (36 per cent) in the country's software export

    earnings, followed by the National Capital Region (NCR) comprising NewDelhi, Haryana and Uttar Pradesh with 17 per cent. Mumbai and Pune(Maharashtra) and Chennai (Tamil Nadu) were third with 15 per cent each,while Hyderabad (Andhra Pradesh) was a poor fifth with 14 per cent. Theother States together contributed to just three per cent, the Minister said onMonday.

    Task force reporty

    It outlined th

    e strategy for improving software exports from th

    e country,h

    esaid.y The Government has already announced stimulus packages including

    Government back-up guarantee to the Export Credit Guarantee Corporationof India Ltd to the extent ofRs 350 crore to enable it to provide guarantee forexports to difficult markets/products, the Minister said.

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    Infosys, Wipro to set up units in KolkataThe Economic Times: December 09, 2010

    y Kolkata: With the IT sector showing strong signs of revival, two of theindustry biggies, Infosys and Wipro, are now in a hurry to set up newsoftware development centres in Kolkata.

    y Wipro chairman Azim Premji told that his company would immediately startwork on the second development centre in Kolkata

    y Bhattac

    herjee at Writers

    Buildings

    . Mr

    Premji told us Wipro's existingfacility, which accommodates 6,500 techies, can take 1,500 more and so they

    need to immediately create more space here,' said Mr Das, who was presentin the meeting.

    y A year ago, Wipro had acquried 50 acres at Jyoti Basu Nagar (RajarhatTownship) in West Bengal forRs 75 crore.

    y Infosys too has now acquired an identical plot for the same sum.

    y This will be Wipro's second centre in the state. The existing facility, which isa Special Economic Zone (SEZ), is located in the heart of the Salt LakeElectronic Complex (Saltlec). Mr Premji's visit follows Infosys CEO andmanaging director Kris Gopalakrishnan's comment that Infy plans to startwork on its Jyoti Basu Nagar centre within the next six months. Mr Das saidthe Premji foundation is keen to work with the state government.

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    REFERENCES

    www.commerce.nic.in(http://commerce.nic.in/eidb/ecomcnt.asp)

    DGFT Website

    (http://dgft.delhi.nic.in/ )

    www.nasscom.in

    (http://www.nasscom.in/Nasscom/templates/NormalPage.aspx?id=56966 )

    www.ibef.org

    www.mit.gov.in

    (http://www.mit.gov.in/content/export-destinations)

    www.iso.org

    www.en.oboulo.com

    (http://en.oboulo.com/a-study-on-export-performance-challenges-and-prospects-of-it-64839.html)

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