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Software service export grew 10.3% in 2016-17: RBI

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12/8/2017 8:08:00 PM
Mumbai, Dec 8 (PTI) India's export of software services
rose by 10.3 per cent on an annual basis to USD 97.1 billion
in 2016-17, the Reserve Bank (RBI) said today.
The export of software services -- excluding the one
through commercial presence -- was USD 88 billion in 2015-16.
"The USA and Canada remained the top destinations of
India's export of software services, followed by Europe in
which the UK accounted for nearly half," said RBI's 'Survey on
Computer Software & Information Technology Enabled Services
Exports: 2016-17'.
Export of computer services ruled, with private and
public limited companies accounting for equal shares during
the year.
The US dollar was the principal invoicing currency,
making up 73 per cent of software exports, followed by the
pound sterling and the euro.
For the 2016-17 round of the survey, the RBI said, 7,506
IT companies were approached, of which 1,362 -- including most
large companies -- responded.
The responding companies accounted for 81.2 per cent of
the total software exports during the year.
Exports of the remaining companies were estimated
using the distribution pattern after classifying them in four
groups -- IT services, BPO services, engineering services and
software product development.
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