Exports of computer software and services, including IT-enabled services (ITeS) and BPO, logged 12.21 per cent growth during 2022-23 to touch $193 billion, according to estimates by Electronics and Computer Software Export Promotion Council (ESC). 

The IT software and services chunk accounted for the bulk of the exports at $126 billion, followed by BPO services ($52 billion). 

“In value terms, export of the IT/ITeS/and BPO during 2022-23 is estimated at $193 billion, up from $172 billion estimated in the year 2021-22, registering growth of 12.21 per cent, which is mostly contributed by IT software and services at $126 billion, followed by BPO services ($52 billion), software products development ($5.1 billion) and engineering services ($9 billion),” Sandeep Narula, the chairman of ESC, said on Monday. 

Mr Narula said that the growth of BPO services at 14.63 per cent and 13.33 per cent growth of IT products were good indications since global trading of these segments would go up considerably in the coming years. 

ESC said that its study indicated that Indian IT services were increasingly penetrating more countries and maintaining their footprints in the traditional markets. 

“The US continues to be the major market, accounting for 54.92 per cent of the total software exports from India in 2022-23, which in value terms translated into $106 billion,” Gurmeet Singh, the executive director of ESC said. 

According to the ESC, the other key markets for Indian IT-BPO sector are the UK (13.09 per cent), the Netherlands (3.63 per cent), Japan (6.50 per cent), Germany (3.11 per cent) and Australia (2.59 per cent).