India’s software export industry has witnessed significant growth, reaching a milestone of $222 billion in the fiscal year 2024-25. This surge, reported by the Electronics and Computer Software Export Promotion Council (ESC), marks an 11% increase from the previous year’s figures.
The export figures encompass various segments, including IT-enabled services (ITeS) and business process outsourcing (BPO). The IT software and services sector alone accounted for $147 billion, representing a substantial 66.2% share of the total exports.
According to ESC, the engineering services sub-sector experienced remarkable growth, surpassing $11 billion with a growth rate of 13.99%. Furthermore, BPO services contributed significantly to the overall exports, adding $58 billion to the industry’s success.
The United States remained the primary market for Indian software exports, with $117.43 billion in imports, comprising 52.9% of the total exports. The UK followed as the second-largest importer at $34.41 billion, showcasing the diversified market presence of Indian software services.
This achievement underscores the consistent quality and reliability of software solutions delivered by Indian firms, enabling them to maintain a strong foothold in competitive markets.
Source: Tech-Economic Times