IT/ITes Exports From STPIs Up By 9 pc

by CXOtoday News Desk    Nov 21, 2016

growth

Software Technology Parks (STP) units under the India government have generated export that is estimated to have grown about 9 percent to Rs 3.19 lakh crore in 2015-16.

Government figure shows that IT software services exports from STP units have grown steadily during the last three years from Rs 2.73 lakh crore in 2013-14 to Rs 2.93 lakh crore in 2014-15. This further grew to an estimated Rs 3.19 lakh crore in 2015-16.The total IT/ITeS export of the country is estimated at USD108 billion during the financial year 2015-16. 

This steady growth during the last three years has placed the country at a commendable position in offshore services in the world. The Government offers various incentives for the IT sector. The target is also to promote SMEs and SMBs for entrepreneurs of the IT and ITes.

 Till now, 204 IT-ITeS specific Special Economic Zones (SEZs) has been notified by the Ministry of Commerce and Industry. At present the SEZ units are eligible for tax benefits as per sections 10AA of the Income Tax Act for a period of 15 years in a phased manner. Currently, STP scheme is administered by the Software Technology Parks of India (STPI), an autonomous society under the Ministry of Electronics and IT.