Software services exports grew by 2.1 percent to $148.3 billion in 2020-21. Exports include services of foreign entities affiliated with Indian companies. Information was revealed from the survey released by the Reserve Bank of India on Monday. RBI has released the annual survey for 2020-21 on the export of computer software and information technology-related services.
According to the central bank, “India’s exports of software services (excluding exports through commercial presence) grew by four percent year-on-year to $133.7 billion in 2020-21. Software exports through the commercial presence of overseas affiliated entities amounted to $14.6 billion in 2020-21. The biggest destination, in this case, is America. Its share for software exports stood at 54.8%.
According to RBI, total software services exports of Indian companies, including affiliated overseas units, grew by 2.1 percent to $148.3 billion in 2020-21. The share of computer services and IT allied services stood at 65.3 percent and 34.7 percent in total software services exports. Exports of Information Technology (IT) Allied Services (ITES) saw the dominance of BPO (Business Process Outsourcing) services.
The central bank said, “The major destination for software exports was the US with a share of 54.8 percent. Europe’s share stood at 30.1 percent. Britain had about half of it. 6,115 software exporting companies were contacted for the 2020-21 survey, out of which 1,815 companies responded, mostly large companies.
Source: RBI
