India's software services exports up 14% at USD 71 bn in FY14

India's software and related services exports rose by over 14 per cent to USD 71.4 billion (Rs 4.32 lakh crore) in 2013-14, according to data from Reserve Bank.
"India's total export of computer services and ITES/BPO services (excluding commercial presence) during 2013-14 was estimated at Rs 4,322.8 billion (USD 71.4 billion), exhibiting 14.1 per cent growth in USD terms over the previous year," RBI said in its data on 'Survey on Computer Software & Information Technology Enabled Services Exports: 2013-14'.
Of the total exports, computer services accounted for 73.6 per cent and ITES/BPO (IT Enabled Services/Business Process Outsourcing) services 26.4 per cent.

During 2013-14, the US and Canada continued to remain the top destination for software exports and accounted for 62.7 per cent in total export of software services.
European countries had 24.4 per cent share, of which UK accounted for 12.6 per cent.
The US Dollar remained the major invoice currency for software exports with 72.6 per cent share, whereas Pound Sterling and Euro had shares of 9.4 per cent and 7.4 per cent.
The data also showed that the share of export of software service through on-site mode increased in 2013-14.
"Its contribution in total service exports increased from 15.8 per cent in 2012-13 to 19.8 per cent in 2013-14," it added.