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India's IT, ITeS exports clocked $111 billion in 2016-17: ESC data

The USA remains the top destination of India's export of software/ services, accounting for 57 per cent of India's total exports in 2016-17

Press Trust of India  |  Bengaluru 

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India's of and IT-enabled services (ITeS) has grown by 3.83 per cent to $111 billion during 2016-17.

It was $107 billion in 2015-16, the Promotion Council (ESC) said in its estimates.

The USA remains the top destination of India's of software/ services, accounting for 57 per cent of India's total exports in 2016-17, said.

In value terms, it translates into $ 63.51 billion as compared to $ 61.51 billion in 2015-16, the findings said.

The remains top second top destination with a share of 18 per cent. In value terms, it works out to $ 20 billion, followed by Singapore ($ 4.43 billion).

The major findings of the Statistical Year Book of were highlighted by Nalin Kohli, Chairman, Indiasoft Organizing Committee and past Chairman, ESC, during its release at the inaugural session of the India soft 2018 here.

Over 400 foreign buyers and 200 Indian exhibitors attended the event, according to the organisers.

Kohli said the IndiaSoft 2018 has taken stock of the impediments of penetrating into software and services markets into emerging markets like Japan, Africa and Latin America.

The consensus was that India should try to get orders being placed by countries in the region directly instead of working as vendors and sub-contractors to the multinational corporations, he said.

On the future strategy of the to create alternative markets for software exports and services, DK Sareen, Executive Director, ESC said the basic objective of Indiasoft was to reduce the dependence on a single market and to make forays into alternative markets.

"Over a period of time, we have reduced the dependence on the market to close to 80 per cent to the current level of 57 per cent. We are confident that while India's share of computer software and services in the world market would go up, our dependence on the will come down over the years.

First Published: Thu, January 25 2018. 22:31 IST