STPI exports at Rs 2.49 lakh crore: DG
The exports clocked by STPI-registered units stood at Rs 4,47,750 crore in 2019-20, about 6 per cent higher than the previous year
New Delhi: The value of software exports by units registered under STPI is estimated to have touched Rs 2.49 lakh crore in April-September, and numbers for the full fiscal year are expected to be almost similar to previous year’s, despite COVID-19 related challenges, a top official said.
The exports clocked by STPI-registered units stood at Rs 4,47,750 crore in 2019-20, about 6 per cent higher than the previous year. The exports stood at Rs 4,21,103 crore during 2018-19.
According to latest data by the Software Technology Parks of India (STPI), exports by these units are estimated at Rs 1.21 lakh crore in September quarter of the current fiscal year, and Rs 1.27 lakh crore in preceding June quarter.
“The data that is coming in, is encouraging. Exports continued during lockdown, as we took immediate steps to facilitate work-from-home and remote working. Trends in data show that exports for full year 2020-21 will be able to reach near-similar levels as last fiscal,” STPI Director General Omkar Rai said.
On business outlook for the fiscal, Rai said some impact was seen in small and medium enterprises serving tourism and hospitality — sectors that were hit by the pandemic. However, this is likely to be offset by revival in other industries.
“Exports growth is expected to continue in Banking Financial Services and Insurance (BFSI), Hi-tech, manufacturing sectors. We don’t anticipate much impact on software exports per se….Some sectors have taken a hit, but sectors like BFSI have seen return of growth due to enormous adoption of digital technologies,” he said.
Moreover, demand is flowing in for data analytics, Internet of Things, Artificial Intelligence, Augmented Reality and Virtual Reality for creating world-class software products, he added.
Indian tech companies continued to deliver service through the lockdown period, he said.
