Export of software & ITes Services - UK alone accounts for total exports to Europe: RBI
By TIOL News Service
MUMBAI, DEC 09, 2017: THE RBI has released the findings of its survey on "computer software and information technology enabled services (ITES) exports". For the 2016-17 round of the survey, 7,506 IT companies were approached, of which 1,362 companies (including most of the large companies) responded. The responding companies accounted for 81.2 per cent of the total software exports during the year. Exports of the remaining companies were estimated by using the distribution pattern after classifying them in four groups, (viz., IT services; business process outsourcing (BPO) services; engineering services; and software product development).
The key highlights of the Survey are:
++ India’s total export of software services (excluding exports through commercial presence) increased by 10.3 per cent in USD terms.
++ Exports of computer services remained the dominant component, with private limited companies and public limited companies holding equal shares in exports during the year.
++ USA and Canada remained the top destinations of India’s export of software services, followed by Europe in which UK accounted for nearly half.
++ The US dollar was the principal invoicing currency, accounting for 73 per cent of software exports, followed by the pound sterling and the euro.
++ The off-site mode remained the preferred mode of delivery.
++ The share of export of software services through mode-1 (cross-border supply) and mode-3 (commercial presence) increased during the year and together accounted for 85.9 per cent of software exports.
++ Software exports by foreign affiliates of Indian companies showed an impressive growth of 17.0 percent during 2016-17, their major presence being in the USA and the UK.
++ Including services delivered by foreign affiliates, total exports of software services by India was placed at USD 120.4 billion; excluding foreign affiliates, exports are estimated at US$ 97.1 billion.
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