India’s IT services exports surge by 14.8% in 2014-15

India’s computer services and ITES/BPO services (excluding commercial presence) export during 2014-15 surged by 14.8 per cent to $82 billion (Rs 5.01 lakh crore) over the previous year. According to the Reserve Bank of India (RBI) in it’s a 'Survey on Computer Software & Information Technology Enabled Services Exports: 2014-15' said that Exports of ‘computer services’ and ‘ITES/BPO services’ contributed 72.0 per cent and 28.0 per cent, respectively, of the total software services exports.

As per the RBI survey, USA & Canada continued as the major destination and accounted for nearly 60 per cent in total export of software services during 2014-15. Europe had nearly 25 per cent share, of which UK accounted for almost half. US Dollar was the invoice currency for around three-fourths of the software exports followed by Pound Sterling and Euro.

Further, the share of the public company in software services exports were about 55.6% in the financial year 2014-15 compared to 63.65 in the 2013-14 year. On the other hand, the share of the private companies in software services exports grew to 43.1% in 2014-15 against 36% the year ago. Moreover, off-site mode accounted for 80 per cent of the software export in 2014-15, while on-site mode accounted for the remaining 20 per cent.

In the year 2014-15, Software exports by foreign affiliates stood at  Rs 841.7 billion ($13.8 billion) and total export of software services by India, including the services delivered by foreign affiliates established abroad, stood at Rs 5,855.7 billion ($95.8 billion). USA had the major share in total software business by foreign affiliates by 71.5% followed by UK at 21%.