💰India's Outsourced Software Industry Surges 9.5% to $239B
India's IT services boom, but product dev takes a hit
TL;DR
India's outsourced software industry grew 9.5% to $239B, with IT services leading the charge. However, software product development saw a slight decline. The US remains the top market for Indian IT services.
India's outsourced software industry grew 9.5% to reach $239 billion, according to the Reserve Bank of India's annual survey. IT services led the growth, with $147 billion in billings, while business process outsourcing (BPO) followed with $56 billion. However, the software product development sector, which earned $56.5 billion, saw a slight decline. The US remained the top market for Indian IT services, accounting for $119.7 billion of sales, followed by the UK with $34 billion. This growth is not attributed to AI, according to the survey, which received replies from 2,363 tech services firms out of over 7,500 asked.
Key Points
India's outsourced software industry grew 9.5% to $239 billion in FY 25/26, according to the Reserve Bank of India's annual survey.
IT services billings reached $147 billion, while BPO billings were $56 billion, according to the survey.
Software product development earned India $56.5 billion, but saw a slight decline in growth.
The US remained the top market for Indian IT services, accounting for $119.7 billion of sales.
The survey received replies from 2,363 tech services firms out of over 7,500 asked.
Why It Matters
If you're a CTO outsourcing IT services, India's growth to $239 billion means more competitive pricing and services. However, if you're in software product development, the slight decline in growth might signal a shift in focus or demand.
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