The IT and electronics sector is one of the fastest-growing segments of the Indian industry, both in terms of production and exports. In fact, software development and IT-enabled Services (lTeS) have contributed significantly to India’s emergence as a global player. Today, India is a vast market and has a major IT production base. The direct employment in the lTeS sector was estimated to reach around 3 million in 2012-13. The demand of electronics products and systems in the country is estimated to reach US$ 400 billion by 2020.
Key Markets and Export Destinations
The IT and electronics industry witnessed a growth of 22 per cent in production and 21.4 per cent in exports in 2012-13, with India ranking among the top 30 markets in terms of sales and production.
- Exports by the computer services industry stood at US$ 75.4 billion in 2012-13
- North America is the key market for exports of computer software and services; 58.8 per cent of India’s exports were to North America in 2011-12
- Singapore, Hong Kong and other South Asia countries have been among the other major destinations for India’s exports of computer/ services during 2011-12
- The exports of electronics hardware to middle East countries had registered a growth of about 43.9 per cent in 2011-12, growing from US$ 1.27 billion in 2010-11 to US$ 1.83 billion in 2011-12