Mumbai: 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. 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.
RBI releases annual survey for 2020-21
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 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 percent.
software services exports up 2.1 percent
According to RBI, total software services exports, including affiliated overseas units of Indian companies, grew by 2.1 percent to $148.3 billion in 2020-21. The share of computer services and IT allied services in total software services exports stood at 65.3 per cent and 34.7 per cent. Exports of Information Technology (IT) Allied Services (ITES) saw the dominance of BPO (Business Process Outsourcing) services. The central bank said, ‘‘s major destination for software exports was the US with 54.8 percent share. 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.