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A survey by the Reserve Bank of India has informed that the country's total export of software services, including services provided by foreign subsidiaries of Indian information technology companies, increased to $ 205.2 billion in the financial year 2023-24. India's software services exports grew by 2.8 percent year-on-year to $190.7 billion.
Mumbai . The country's total exports of software services, including services provided by foreign subsidiaries of Indian information technology companies, increased to $ 205.2 billion in the financial year 2023-24. This information has been given in a survey by the Reserve Bank of India (RBI). RBI's Annual Survey 2023-24 on exports of computer software and information technology enabled services (ITES) shows that India's exports of software services (excluding their sales through commercial presence abroad) grew by 2.8 per cent year-on-year. It became 190.7 billion dollars.
According to the data, America remained the major destination of Indian software exports with 54 percent share. It was followed by Europe (31 percent share) in which Britain had a significant presence. 7,226 software export companies were contacted in the survey. Of these, 2,266 companies responded, including most of the large companies. The participating companies accounted for approximately 89 percent of the total software services exports. The RBI survey says computer services accounted for more than two-thirds of total software services exports in FY 2023-24 and BPO services remained the major component of ITES exports. According to the survey report, private sector companies registered higher growth in exports of software services compared to public sector companies.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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