Software services export grows to $205.2 bn in FY24, US major destination

Quick Summary:

India's exports of software services (excluding their sales through overseas commercial presence) increased by 2.8 per cent during 2023-24 to USD 190.7 billion, according to the data related to the 2023-24 round of RBI annual survey on computer software and information technology enabled-services (ITES) exports.

India's total exports of software services, including services delivered by foreign affiliates of Indian companies, increased to USD 205.2 billion during 2023-24 from USD 200.6 billion in the previous fiscal, according to a Reserve Bank survey.

The US was the major software export destination with a 54 per cent share, followed by Europe (31 per cent share), where the United Kingdom was a major destination country, according to the data.

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Category: BusinessFinance

Markets: IndiaUnited Kingdom

Topics: IT sector RBI Software services exports Software services

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 21:42:11 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 409 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23120673

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