Exports clocked by STPI units in H1 FY21 estimated at Rs 2.49 lakh crore: DG

By: |
November 1, 2020 12:36 PM

STPI's offices continued to function during the lockdown period and online facilities were made available to ensure IT units do not face difficulties, he added.

service activity, services pmi, service sector, services performance, manufacturingThe Composite PMI Output Index also rose from 54.6 in September to 58 in October, indicating the strongest increase in private sector output in around nine years.

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.

STPI is an autonomous society set up by the Ministry of Electronics and Information Technology in 1991, with the objective of encouraging, promoting and boosting the software exports from India.

By implementing Software Technology Park (STP) and Electronic Hardware Technology Park (EHTP) schemes, STPI focuses on building an enabling ecosystem to provide single window clearance services, reliable internet connectivity, incubation facilities and other infrastructure services to encourage software exports from the country.

STPI aims to foster a conducive environment for startups, backed by projects and initiatives such as establishment of Centres of Excellence in emerging technologies and execution of Next Generation Incubation Scheme.

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.

STPI’s offices continued to function during the lockdown period and online facilities were made available to ensure IT units do not face difficulties, he added.

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