Exports of software services by Indian companies gain 7.3% to US$ 204.7 billion in FY25

Reserve Bank of India or RBI released the data related to the 2024-25 round of its annual survey on computer software and information technology enabled services (ITES) exports. For 2024-25 round of the survey, 6,766 software export companies were contacted, of which 2,206 companies, including most of the large companies, responded. The participating companies together accounted around 90 per cent of total software services exports.

Exports of software services by the Indian companies (excluding their sales through overseas commercial presence) are estimated to have increased by 7.3 per cent during 2024-25 to US$ 204.7 billion. Computer services continued to account for over two-thirds of India’s total software services exports during the year; BPO services remained the major component of ITES exports.

While private limited companies recorded a growth of 11.6 per cent in the total export of software services during the year, exports by public limited companies increased marginally by 1.3 per cent. Software exports to the United States of America (USA) increased at lower pace of 4.9 per cent compared to 14.3 per cent growth for Europe. As a result, the share of USA in total software exports declined from 54.1 per cent during 2023-24 to 52.9 per cent during 2024-25. On the contrary, the share of Europe increased from 30.8 per cent to 32.8 per cent.

The US Dollar was the principal invoicing currency constituting 72.0 per cent of India’s software exports, followed by the Euro (9.6 per cent), the INR (7.1 per cent) and the Pound Sterling (6.0 per cent).

The share of off-site mode in total exports of software services was 90.7 per cent in 2024-25.

Total software export services, including services delivered by foreign affiliates of Indian companies, increased by 6.5 per cent during 2024-25 and stood at US$ 218.6 billion Contribution of cross-border supply mode in total export of software services increased from 83.5 per cent in 2023-25 to 84.8 per cent during 2024-25, however share of other modes had declined.

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