The US dollar remained the main billing currency for software exports, followed by the euro and sterling. However, the US dollar’s share fell to 70.5% from 72% last year. The euro and pound were also down, down 10% and 6.4% respectively.
In terms of types of service delivery, the share of Mode-1 (cross-border delivery) in India’s software services exports further increased from 78.4% last year to 80.9% in 2021-22; the share of the other three types of supply (consumption abroad, commercial presence and presence of natural persons) decreased.
Total exports of software services, including services provided by foreign subsidiaries of Indian companies, increased by 15.9% in 2021-22, amounting to US$171.9 billion; The local software business of foreign subsidiaries was US$15.2 billion, with the United States being the main target.
For the 2021-22 survey round, 6,218 software export companies were contacted, of which 2,074 companies, most of which were large companies, responded. Responding companies accounted for 89.4% of total software services exports during the year3.
