This Article is From Dec 08, 2015

IT Services Exports Up 15% in 2014-15: RBI

IT Services Exports Up 15% in 2014-15: RBI
Mumbai: India's total export of IT, ITeS (IT-enabled services) and BPO services grew 14.8 per cent to $82 billion (Rs 5.01 lakh crore) in 2014-15, data from the Reserve Bank of India showed on Tuesday.

"India's total export of computer services and ITeS/BPO services (excluding commercial presence) during 2014-15 is estimated at Rs 5,014 billion ($82 billion), registering 14.8 per cent growth in dollar terms over the previous year," the RBI said in its 'Survey on Computer Software & Information Technology Enabled Services Exports: 2014-15'.

Exports of computer services and ITeS/BPO contributed 72 per cent and 28 per cent, respectively, to the total software services exports during the period, it said.

Of this, public limited companies made up for 55.6 per cent.

According to the RBI survey, the US and Canada continued as major destinations, which accounted for nearly 60 per cent of total software services export in 2014-15.

Europe's share stood at nearly 25 per cent, of which the UK accounted for almost half. The dollar was the invoice currency for around three-fourths of software exports followed by the pound sterling and the euro, it added.