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Electronic And Computer Software Industry


Electronic And Computer Software Industry

The IT & electronics industry is one of the fastest-growing industries in India, both in terms of production and exports. In fact, software development and IT-enabled services (ITeS) have made India’s brand equity a force to reckon with. The Indian electronics products demand is expected to grow at a Compound Annual Growth Rate (CAGR) of 41 per cent during 2017-20 to touch US$ 400 billion by 2020.

IT BPM industry revenues was estimated at around US$ 177 billion in FY 2018-19 with a growth rate of 6.1 per cent.  According to Nasscom, exports in the IT-BPM sector is expected to grow at 7-8 per cent (excluding exchange rate fluctuations). The domestic market is expected to grow at rate of 10-11 per cent and likely to add 130,000-150,000 jobs in FY2018.

Export Highlights

  • IT-BPM exports from India are estimated to reach US$ 126 billion (IT services – US$ 69 billion; BPM – US$ 28 billion; Engineering and R&D services (ER&D) – US$ 80.94 billion) in FY 19; the Indian IT-BPM industry stands at US$ 181 billion (FY 19); and the industry is largest employer of workforce which is around 4 million people.
  • From April-July’19, exports of computer hardware & peripherals and consumer electronics stood at US$ 113.99 million and US$ 148.90 million, respectively.
  • Exports of consumer electronics from India reached US$ 148.90 million from April- July’19. The top export destinations were USA (US$ 39.89 million), UK (US$ 3.68 million), Singapore (US$ 10.17 million), Israel (US$ 6.91 million) and Belgium (US$ 6.10 million).
  • Exports of consumer electronics from India reached US$ 362.11 million in 2017-18. The top export destinations were USA (US$ 95.61 million), UK (US$ 62.97 million), Singapore (51.87 million), Israel (33.86 million) and Belgium (US$ 30.50 million).

Electronics and Computer Software Export Promotion Council

  • The Electronics and Computer Software Promotion Council (ESC) was formed to provide a platform for India’s IT & electronics industry. With exports to more than 200 countries, ESC has successfully steered the direction of India’s electronics and software exports. ESC offers a comprehensive database of industry companies, and products and capabilities of all major players.
  • The council facilitates import/export collaborations, joint ventures, sub-contracting tie-ups, and technology transfers for industry players.
  • It provides access to published reports on markets, products and trade statistics, business opportunities, and government policies.

 

Source: India Brand Equity Foundation


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