Software Services Exports Grew By 2% To $148.3 Billion In 2020-21: RBI

There was a two per cent growth in exports of software services, which also included services rendered by foreign partners of Indian entities, during 2020-21 as they stood at $148.3 billion, according to a survey conducted by the Reserve Bank of India (RBI).

The data related to the annual survey on export of computer software and information technology-enabled services (ITES) for 2020-21, which was released by RBI on Monday, said that the country’s exports of software services – which excluded exports through commercial presence – are expected to be around $133.7 billion, thus recording a four per cent growth over the corresponding period.

Computer services and ITES consist of 65 per cent and 34 per cent of share in the overall software services exports, respectively.

BPO services formed the major chunk of ITES exports, the central bank data said.

In addition to this, private limited companies undertook 50 per cent of the exports of software services, according to the data.

For the 2020-21 round of the survey, 6,115 software export companies were contacted, out of which 1,815 companies responded, which included most of the large companies. The responding companies accounted for 86.5 per cent of the total software services exports during the year, the RBI statement said.