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318 Economic Survey 2020-21 Volume 2

each accounting for a roughly equal share of about 23 per cent. (Figure 4). All three sub-
sectors witnessed an increase in export revenues in 2019-20, with IT services growing by
6.9 per cent, BPM services by 8.4 per cent and Software Products & Engineering Services by
10.7 per cent.
Figure 4: Sub-Sector Breakdown of IT-BPM Exports (US $ billion)
(Excluding Hardware and e-commerce)

Source: NASSCOM. Note: E: Estimate.

9.28 Looking at country-wise distribution of export revenues, USA remained the biggest
recipient of exports, amounting to US$ 91 billion (Figure 5), accounting for 62 per cent of total
IT-BPM exports (excluding hardware) in 2019-20. This is followed by UK, being the second
largest export market for IT-BPM services amounting US$ 24.7 billion but with a much smaller
share of around 17 per cent. Europe (excluding UK) and Asia-Pacific account for 11.4 per cent
and 7.6 per cent of the export earnings of India, respectively.

Figure 5: Geographic Break-up of India’s IT-BPM Exports (US $ billion)
(Excluding Hardware and e-commerce)

Source: NASSCOM. Note: E: Estimate.