IT software export industry is getting bigger with 9% growth this year
Exports of IT software services from units under the government's Software Technology Parks (
Government data showed that IT software services exports from STP units have grown steadily during the last three years from Rs 2.73 lakh crore in 2013-14 to Rs 2.93 lakh crore in 2014-15, as per a news report by
This further grew to an estimated Rs 3.19 lakh crore in 2015-16.
The total IT/ITeS export of the country is estimated at $108 billion during the financial year 2015-16.
The government extends several incentives for the IT sector. These measures have been major contributory factors for the sector to flourish in India and placed the country at a dominant position in offshore services in the world.
The aim also is to promote micro, small and medium businesses by creating conducive environment for entrepreneurship in the field of IT and IT-enabled services (ITeS).
STP scheme is one of them under which IT-ITeS units are eligible for various benefits like customs duty exemption on imported goods, reimbursement of Central
The scheme is administered by the
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