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India's software service exports increased in 2017-18: RBI data.

Date: 11-12-2018
Subject: India's software service exports increased in 2017-18: RBI data
India's total exports of software services, excluding exports through overseas commercial presence, increased by 11.6 percent to $ 108.4 billion in 2017- 18, according to the Reserve Bank of India's annual survey.

Total exports of software services by India, including services delivered by foreign affiliates of Indian companies, which were mainly present in the US and the UK, during 2017-18 are estimated at $ 131.3 billion, the RBI said, in its "Survey on Computer Software & Information Technology Enabled Services Exports: 2017-18".

For the survey, RBI approached 7,434 IT companies, of which 1,546 companies responded, which make up 81.4 per cent in total software exports during the year.

Computer services remained the dominant component of total exports of software services, but fell to 68.2 per cent in 2017-18 from 69.2 per cent in 2016-17.

There was a marginal increase in the share of business process outsourcing services.

Exports of software services by private limited companies exceeded those of public limited companies for the first time in the survey’s history, the RBI said in a statement on Monday.

Private limited companies accounted for 51.7 per cent of software services exports in 2017-18, from 49.2 percent in the previous year.

Public limited companies accounted for 47.5 percent in 2017-18, down from 50.3 per cent last year.

The United States and Canada together accounted for 61.4 percent of exports of software services, followed by Europe (24 percent), where the UK  (11.5 per cent) was the major export destination.

The off-site mode, or employees staying in India to service clients in another location, remained the preferred mode of delivery in the year (84.3 percent), and the share of on-site services (15.7 percent) declined during 2017-18.

Source: moneycontrol.com

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