India’s IT services exports grow by 14.8% in 2014-15
India’s exports of computer software and information technology enabled services (ITES)/BPO services grew by 14.8% to $82 billion during the last financial year, RBI data said on Tuesday. The growth in India’s total software services exports were led by computer services, contributing a whopping 72% growth, followed by the ITES/BPO sector which contributed 28% during the period. Public limited companies accounted for 55.6% share of the total software services exports during 2014-15. According to the survey on ‘Computer Software & Information Technology Enabled Services Exports: 2014-15' released by RBI, the US and Canada continued to be India’s major exports destinations, accounting for about 60% of total software services export during 2014-15. “Europe's share stood at nearly 25%, of which UK accounted for almost half. The dollar was the invoice currency for around three-fourths of software exports followed by the pound sterling and the euro,” the report said. The survey collected dimensions of the export of software services as per the activity, type of services (on-site/off-site), destination and the modes of supply. For the 2014-15 survey round, the RBI contacted 7,000 IT companies, of which 1,095 firms, including many large entities, responded to the survey. The responding companies accounted for around 77% of the total software exports during 2014-15. Last month, NASSCOM had projected the Indian technology and services industry to achieve its goal of $225 billion by 2020 and further to reach $350 billion by 2025.
December 09, 2015 | 01:15pm IST
to success.