In the financial year 2023, the total revenue generated by IT industry exports from India was estimated to be around 194 billion U.S. dollars. It was almost doubled in comparison with the 108 billion dollars in 2016. During the presented period, there was a constant increase in the export value despite the impact of the coronavirus pandemic.
IT industry in India
IT products and services are arguably one of the most important exports of India. In the financial year 2023, it accounted for 7.5 percent of the country’s GDP. India’s IT sector started to bloom in the ‘90s, after the government introduced a new software policy to build proper infrastructure for software development in the country. The sector has mostly been an outfacing industry, with a reputation for high-quality outsourcing services. IT software and services were the leading types of IT exports, with an export value of 126 billion dollars in 2023.
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MeitY (India). (June 7, 2024). Value of export revenue of the IT sector across India from financial year 2016 to 2023, with an estimate for 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved October 04, 2024, from https://www.statista.com/statistics/719128/india-value-of-export-revenue-in-it-bpm-sector/
MeitY (India). "Value of export revenue of the IT sector across India from financial year 2016 to 2023, with an estimate for 2024 (in billion U.S. dollars)." Chart. June 7, 2024. Statista. Accessed October 04, 2024. https://www.statista.com/statistics/719128/india-value-of-export-revenue-in-it-bpm-sector/
MeitY (India). (2024). Value of export revenue of the IT sector across India from financial year 2016 to 2023, with an estimate for 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: October 04, 2024. https://www.statista.com/statistics/719128/india-value-of-export-revenue-in-it-bpm-sector/
MeitY (India). "Value of Export Revenue of The It Sector across India from Financial Year 2016 to 2023, with An Estimate for 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 7 Jun 2024, https://www.statista.com/statistics/719128/india-value-of-export-revenue-in-it-bpm-sector/
MeitY (India), Value of export revenue of the IT sector across India from financial year 2016 to 2023, with an estimate for 2024 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/719128/india-value-of-export-revenue-in-it-bpm-sector/ (last visited October 04, 2024)
Value of export revenue of the IT sector across India from financial year 2016 to 2023, with an estimate for 2024 (in billion U.S. dollars) [Graph], MeitY (India), June 7, 2024. [Online]. Available: https://www.statista.com/statistics/719128/india-value-of-export-revenue-in-it-bpm-sector/