Today, the Reserve Bank released the data1 related to the 2024-25 round of its annual survey on computer software and information technology enabled services (ITES) exports. The survey2 collects details on India’s exports of software services {computer services and ITES/business process outsourcing (BPO) services} as per type of activity, on-site/off-site nature of services, country of destination and modes of supply. 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 exports3 (Table 1). Highlights:
- 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 (Table 2).
- 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 (Tables 2 and 3).
- 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 (Table 4).
- Software exports to the United States of America (USA) increased at a 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 (Table 5).
- 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) (Table 6).
- The share of off-site mode in total exports of software services was 90.7 per cent in 2024-25 (Table 7).
- 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 2023-24 to 84.8 per cent during 2024-25, however share of other modes had declined (Table 8).
Ajit Prasad
Deputy General Manager
(Communications) Press Release: 2025-2026/1446
Table 1: Survey Response and Final Estimates for 2024-25 – A Snapshot |
Item | Reported | Final Estimates |
Rs, crore | US$ billion | Rs, crore | US$ billion |
1 | 2 | 3 | 4 | 5 |
1. Number of companies | 2,206 | 2,206 | 6,766 | 6,766 |
2. Total Exports of Software Services | 15,51,684 | 183.4 | 17,31,471 | 204.7 |
2.1 IT Services | 10,09,918 | 119.4 | 11,10,640 | 131.3 |
2.2 Software Product Development | 51,151 | 6.0 | 57,659 | 6.8 |
2.3 BPO Services | 4,10,605 | 48.5 | 4,71,690 | 55.8 |
2.4 Engineering Services | 80,010 | 9.5 | 91,482 | 10.8 |
3. Total Exports of Software Services including commercial presence | 16,67,380 | 197.2 | 18,48,810 | 218.6 |
3.1 Mode 1 (cross-border supply) | 14,03,928 | 166.0 | 15,68,256 | 185.4 |
3.2 Mode 2 (consumption abroad) | 2,190 | 0.3 | 2,446 | 0.3 |
3.3 Mode 3 (commercial presence) | 1,17,339 | 13.9 | 1,17,339 | 13.9 |
3.4 Mode 4 (presence of natural person) | 1,43,923 | 17.0 | 1,60,769 | 19.0 |
Notes:
1. The sum of components may differ from total due to rounding off.
2. The amount in US $ terms is arrived at by using annual average rupee/ dollar exchange rate.
3. These are also applicable for the remaining tables. |
Table 2: Software Services Exports from India |
Activity | 2023-24 | 2024-25 |
Rs, crore | US$ billion | Share (%) | Rs, crore | US$ billion | Share (%) |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
A. Computer Services | 10,84,361 | 131.0 | 68.7 | 11,68,299 | 138.1 | 67.4 |
of which: |
i) IT Services | 10,38,618 | 125.5 | 65.8 | 11,10,640 | 131.3 | 64.1 |
ii) Software Product Development | 45,743 | 5.5 | 2.9 | 57,659 | 6.8 | 3.3 |
B. IT Enabled Services | 4,94,289 | 59.7 | 31.3 | 5,63,172 | 66.6 | 32.6 |
of which: |
i) BPO Services | 4,14,492 | 50.1 | 26.3 | 4,71,690 | 55.8 | 27.3 |
ii) Engineering Services | 79,797 | 9.6 | 5.0 | 91,482 | 10.8 | 5.3 |
Total Export of Software Services (A+B) | 15,78,650 | 190.7 | 100.0 | 17,31,471 | 204.7 | 100.0 |
Table 3: Industry-wise Distribution of ITES/BPO Services Exports |
Activity | 2023-24 | 2024-25 |
Rs, crore | US$ billion | Share (%) | Rs, crore | US$ billion | Share (%) |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
A. BPO Services | 4,14,492 | 50.1 | 83.9 | 4,71,690 | 55.8 | 83.8 |
(i) Business consulting services including public relations services | 27,173 | 3.3 | 5.5 | 31,641 | 3.8 | 5.7 |
(ii) Finance and accounting auditing bookkeeping and tax consulting services | 60,415 | 7.3 | 12.2 | 69,245 | 8.2 | 12.3 |
(iii) HR administration | 3,627 | 0.4 | 0.7 | 2,733 | 0.3 | 0.5 |
(iv) Supply chain and other management services/ logistics | 6,242 | 0.8 | 1.3 | 6,464 | 0.8 | 1.2 |
(v) Medical transcription and document management | 6,722 | 0.8 | 1.4 | 1,110 | 0.1 | 0.1 |
(vi) Content development and management and publishing | 3,248 | 0.4 | 0.7 | 2,863 | 0.3 | 0.5 |
(v) Other BPO services | 3,07,065 | 37.1 | 62.1 | 3,57,634 | 42.3 | 63.5 |
B. Engineering Services | 79,797 | 9.6 | 16.1 | 91482 | 10.8 | 16.2 |
(i) Embedded solutions | 15,871 | 1.9 | 3.2 | 15,861 | 1.8 | 2.7 |
(ii) Product design engineering (mechanical electronics excluding software) | 13,422 | 1.6 | 2.7 | 14,934 | 1.8 | 2.7 |
(iii) Industrial automation and enterprise asset management | 2,046 | 0.2 | 0.3 | 2,121 | 0.3 | 0.4 |
(iv) Other engineering services | 48,458 | 5.9 | 9.9 | 58,566 | 6.9 | 10.4 |
Total (A+B) | 4,94,289 | 59.7 | 100.0 | 5,63,172 | 66.6 | 100.0 |
Table 4: Organisation-wise Distribution of Software Services Exports |
Types of Organisations | 2023-24 | 2024-25 |
Rs, crore | US$ billion | Share (%) | Rs, crore | US$ billion | Share (%) |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
Private Limited Company | 9,12,658 | 110.3 | 57.8 | 10,41,570 | 123.1 | 60.1 |
Public Limited Company | 6,31,030 | 76.2 | 40.0 | 6,52,957 | 77.2 | 37.7 |
Others# | 34,962 | 4.2 | 2.2 | 36,944 | 4.4 | 2.2 |
Total | 15,78,650 | 190.7 | 100.0 | 17,31,471 | 204.7 | 100.0 |
# Others include mostly LLPs/proprietor firms. |
Table 5: Software Services Exports – Major Destination |
Region | 2023-24 | 2024-25 |
Rs, crore | US$ billion | Share (%) | Rs, crore | US$ billion | Share (%) |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
United States of America | 8,54,604 | 103.2 | 54.1 | 9,16,010 | 108.3 | 52.9 |
Canada | 21,338 | 2.6 | 1.4 | 22,931 | 2.7 | 1.3 |
Europe | 4,87,209 | 58.8 | 30.8 | 5,68,121 | 67.2 | 32.8 |
of which: |
United Kingdom | 2,22,116 | 26.8 | 14.1 | 2,68,868 | 31.8 | 15.5 |
Asia | 1,05,747 | 12.8 | 6.7 | 1,10,019 | 13.0 | 6.4 |
of which: |
East Asia | 82,362 | 9.9 | 5.2 | 91,296 | 10.8 | 5.3 |
West Asia | 19,527 | 2.4 | 1.3 | 16,014 | 1.9 | 0.9 |
South Asia | 3,858 | 0.5 | 0.2 | 2,709 | 0.3 | 0.2 |
Australia & New Zealand | 37,710 | 4.6 | 2.4 | 42,321 | 5.0 | 2.4 |
Other countries | 72,042 | 8.7 | 4.6 | 72,069 | 8.5 | 4.2 |
Total | 15,78,650 | 190.7 | 100.0 | 17,31,471 | 204.7 | 100.0 |
Table 6: Software Services Exports - Currency Composition of Invoice |
Currency | 2023-24 | 2024-25 |
Rs, crore | US$ billion | Share (%) | Rs, crore | US$ billion | Share (%) |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
USD | 11,35,061 | 137.1 | 71.9 | 12,46,363 | 147.4 | 72.0 |
EUR | 1,47,006 | 17.8 | 9.3 | 1,66,790 | 19.7 | 9.6 |
INR | 1,12,364 | 13.6 | 7.1 | 1,23,120 | 14.5 | 7.1 |
GBP | 97,869 | 11.8 | 6.2 | 1,03,910 | 12.3 | 6.0 |
AUD | 30,844 | 3.7 | 2.0 | 33,824 | 4.0 | 2.0 |
Other Currencies | 55,506 | 6.7 | 3.5 | 57,464 | 6.8 | 3.3 |
Total | 15,78,650 | 190.7 | 100.0 | 17,31,471 | 204.7 | 100.0 |
Table 7: Software Services Exports – Type of Services |
Type of Services | 2023-24 | 2024-25 |
Rs, crore | US$ billion | Share (%) | Rs, crore | US$ billion | Share (%) |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
On-site Services | 1,57,588 | 19.1 | 10.0 | 1,60,769 | 19.0 | 9.3 |
Off-site Services | 14,21,062 | 171.6 | 90.0 | 15,70,702 | 185.7 | 90.7 |
Total | 15,78,650 | 190.7 | 100.0 | 17,31,471 | 204.7 | 100.0 |
Table 8: Mode-wise Exports of Software Services |
Type of Mode | 2023-24 | 2024-25 |
Rs, crore | US$ billion | Share (%) | Rs, crore | US$ billion | Share (%) |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
Mode 1 (cross-border supply) | 14,18,267 | 171.3 | 83.5 | 15,68,256 | 185.4 | 84.8 |
Mode 2 (consumption abroad) | 2,795 | 0.3 | 0.2 | 2,446 | 0.3 | 0.1 |
Mode 3 (commercial presence) | 1,20,046 | 14.5 | 7.0 | 1,17,339 | 13.9 | 6.4 |
Mode 4 (presence of natural person) | 1,57,588 | 19.1 | 9.3 | 1,60,769 | 19.0 | 8.7 |
Total | 16,98,696 | 205.2 | 100.0 | 18,48,810 | 218.6 | 100.0 |
Table 9: Software Business by Foreign Affiliates of Indian Companies during 2024-25 - Activity Distribution |
(Amount in Rs, crore) |
Activity | Locally* | To India | Other Countries |
1 | 2 | 3 | 4 |
IT Services | 12,739 | 1,598 | 2,539 |
Software Product Development | 88 | 1 | 20 |
BPO Services | 4,724 | 76 | 7,183 |
Engineering Services | 6,858 | 22 | 716 |
Other Services | 92,930 | 62,075 | 16,717 |
Total (Rs, crore) | 1,17,339 | 63,772 | 27,175 |
Total (US$ billion) | 13.9 | 7.5 | 3.2 |
*Software business by foreign affiliates of Indian companies “locally” indicates Mode-3 (commercial presence). |
Table 10: Software Business by Foreign Affiliates of Indian Companies during 2024-25 - Country Distribution |
(Amount in Rs, crore) |
Country | Share in Total Software business by foreign affiliates (%) | Software business by foreign affiliates |
Locally | To India | Other Countries |
1 | 2 | 3 | 4 | 5 |
United States of America | 31.9 | 39,105 | 25,175 | 2,149 |
United Kingdom | 24.6 | 16,703 | 32,985 | 1,647 |
Canada | 7.7 | 11,814 | 203 | 3,955 |
Germany | 7.3 | 13,035 | 1,246 | 978 |
Netherlands | 5.7 | 8,836 | 653 | 2,318 |
Singapore | 4.7 | 6,240 | 658 | 2,961 |
Other Countries | 18.1 | 21,606 | 2,852 | 13,167 |
Total (Rs, crore) | 100.0 | 1,17,339 | 63,772 | 27,175 |
Total (US$ billion) | - | 13.9 | 7.5 | 3.2 |
1 The previous data release in the series, covering 2023-24 survey round, was published on October 18, 2024, on the RBI website.2 The survey schedule is given in the Annex. 3 Exports of relatively small non-responding companies have been estimated as per the methodology published in the article titled ‘Survey on Computer Software and Information Technology Enabled Services Exports, 2016-17’ on March 2018 issue of the Reserve Bank of India Bulletin. |
