Union Finance Minister Arun Jaitley said, India's competence in IT-Software is recognised globally and in recent times, software development has emerged as one of the most dynamic sectors.<br/><br/>Speaking at Pre-Budget Consultative Meeting in New Delhi yesterday, with stakeholders from IT sector, Mr. Jaitley said, that the electronic market in India is one of the largest in the world and is expected to reach 400 billion dollar in 2020. <br/><br/>During the meeting, it was brought forth that Government support was required for IT sector in view of increasing trends of protectionism and anti-globalisation abroad.<br/><br/>The Minister also said, that India's external position is more robust now. He said, the country has lower trade and Current Account Deficits, stable exchange regime and the sound buffer of forex reserves, which make its position comfortable.<br/>'<br/>During the meeting, the issues about speed and penetration of broadband were also mentioned and it was suggested that fiber cable network needs to be improved for better Internet connectivity i the country.