New Delhi: Software services exports grew by 2.1 percent to $148.3 billion in 2020-21. Exports include services of foreign entities affiliated to Indian companies.
This information has been revealed in a survey released by the Reserve Bank of India (RBI) on Monday. RBI has released an annual survey for 2020-21 on exports of services related to computer software and information technology.
RBI Annual Survey 2020-21
According to the central bank, “India’s exports of software services (excluding exports through commercial presence) grew by four per cent annually to $133.7 billion in 2020-21. Software exports through business presence of foreign affiliated units 2020-21 The US is the largest destination in this respect, accounting for 54.8 percent of its share in software exports.”
software export service
According to RBI, total software services exports, including affiliated overseas units of Indian companies, grew by 2.1 per cent to $148.3 billion in 2020-21.
Computer services and IT allied services account for 65.3 percent and 34.7 percent of the total software services exports. The export of Information Technology (IT) allied services (ITES) was dominated by BPO (Business Process Outsourcing) services.
The central bank said, “The major destination for software exports was the United States with a 54.8 per cent share. Europe’s share was 30.1 per cent. Nearly half of the share was from the UK. From 6,115 software exporting companies for the 2020-21 survey.” Contacts were made, of which 1,815 responded, mostly large companies.
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