Exports of software services increased by 21% in 202021 to $ 1,483 billion RBI Survey
New Delhi: Exports of software services increased 2.1% to reach $ 148.3 billion in 2020-21. Exports include the services of foreign units affiliated with Indian companies.
An investigation released Monday by the Reserve Bank of India (RBI) revealed information. RBI has published an annual survey for 2020-2021 of exports of IT software and services.
RBI Annual Survey 2020-21
According to the central bank, âIndia’s exports of software services (excluding exports through commercial presence) grew by 4% per year to reach $ 133.7 billion in 2020-2021. . The main destination, in this case, is the United States. Its share of software exports was 54.8%. ”
According to RBI, total software services exports, including foreign affiliates of Indian companies, increased 2.1% to $ 148.3 billion in 2020-2021.
Computer services and computer affiliate services accounted for 65.3% and 34.7% of total software service exports. The export of Allied Information Technology (IT) services (ITES) has been dominated by BPO (Business Process Outsourcing) services.
The central bank said: “The main destination for software exports was the United States with a 54.8% stake. Europe’s stake was 30.1%. About half of the partnership was entered into by the United Kingdom 6,115 software exporting companies were contacted for the 2020-21 survey, of which 1,815 responded, most of which were large companies.