New Delhi: India’s software and IT services exports reached an estimated $200 billion in the financial year 2023-24. This marks a 3.63 per cent increase from the $193 billion recorded in the previous year. A report by the Electronics and Computer Software Export Promotion Council (ESC) showed this.
The report also sheds light on the regional contribution to software exports across India. The southern region remains the largest contributor, accounting for $131.1 billion, which is about 65.55 per cent of the total exports. The western region follows with $34.1 billion (17.05 per cent), while the northern region contributes $30.78 billion (15.39 per cent). The eastern region has the smallest share, with $4.02 billion (2.01 per cent).
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‘India’s skilled managerial and technical workforce is meeting global standards, particularly in the IT sector, which is transforming the country into the world’s outsourcing hub,’ ESC Chairman Veer Sagar said.
The major countries for India’s software exports in 2023-24, with the USA leading at US$ 109.40 billion (54.70 per cent), followed by the UK at US$ 28.70 billion (14.35 per cent), Singapore at US$ 7 billion (3.50 per cent), and China at US$ 5.50 billion (2.75 per cent).
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