Question : According to a data recently released by RBI, how much India’s software services export surged in FY20 ?
(a) 9.1%
(b) 7.2%
(c) 11.2%
(d) 6.4%
Ans.(a)
Related facts
- According to a data recently(March 2021) released by RBI, India’s software services export surged 9.1% in FY20.
- Survey/RBI data
- For the 2019-20 round of the survey, 6078 software export companies were contacted, of which 1475 companies responded, which included most of the large companies.
- This survey titled – “annual survey on exports of computer software and information technology enabled services”.
- The responding companies accounted for around 82.7% of the total software services exports during the year.
- India’s export of software services stood at US$ 128.6 billion during 2019-20, registering 9.1% growth over the previous year.
- Exports of computer services and ITES/BPO services contributed 66.6 per cent and 33.4%, respectively, of the total software services exports.
- Private limited companies accounted for more than half of the total export of software services.
- Destination
- The USA was the major destination for software exports with 56.6% share. Europe had 27.6% share, nearly half of which was in the UK.
- Principal invoicing currency
- The US dollar was the principal invoicing currency for software exports with 71.6% share.
- Euro and pound sterling together accounted for another 16.7%. The off-site mode remained the preferred mode of delivery of the total export of software services.
By — Pankaj Pandey.