How much software and IT-enabled services did India export in FY25?

Indian companies exported an estimated US$204.7 billion of software services in FY25 (2024-25), up 7.3% from FY24, according to the RBI's annual survey. This excludes sales through their overseas offices.

Which regions buy most of India's software exports?

In FY25, the United States took 52.9% of India's software services exports and Europe took 32.8%, per the RBI survey. The US share was 54.1% in FY24.

In which currency are India's software exports billed?

In FY25, 72.0% of India's software exports were invoiced in US dollars, 9.6% in euros, 7.1% in rupees and 6.0% in pounds sterling, per the RBI survey.

Sector

Information Technology sector explained

Companies that build and run software, manage computer systems and handle back-office work for businesses. Most of their clients are in the United States and Europe.

For learning only. Cityfort is not a SEBI-registered adviser and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

Companies we cover

3 companies in Information Technology

Infosys
INFY
Infosys builds and runs software for large companies, mostly in North America and Europe; FY26 revenue was ₹178,650 crore.
Data depth: RichCovers Q2 FY27
Saksoft
SAKSOFT
Saksoft builds and maintains custom software for mid-sized companies, mostly in the US and Europe, earning ₹1,007 crore in FY26.
Data depth: RichCovers Q1 FY27
TCS
TCS
TCS builds, runs and fixes computer systems for large companies worldwide, earning ₹267,021 crore of revenue in FY26.
Data depth: RichCovers Q2 FY27

Infosys vs TCS: how they differ

How companies in this sector earn

How do Information Technology companies make money?

IT services firms bill clients for the hours their engineers work, or a fixed price for a whole project.
Many contracts run for several years, so a large part of each year's revenue repeats.
Software product companies earn licence or subscription fees instead of billing for staff time.
Salaries are the biggest cost, so pay rises and how busy staff are decide most of the margin.
Revenue is mostly earned in dollars or euros while salaries are paid in rupees, so exchange rates matter.

Who regulates it

Ministry of Electronics and Information Technology (MeitY) · Software Technology Parks of India (STPI) · Reserve Bank of India (RBI), for foreign-exchange rules on export earnings

What moves results across the sector

Technology budgets of large clients in the United States and Europe, especially banks and retailers.
The rupee's exchange rate against the US dollar and the euro.
Hiring, wage increases and attrition, which the companies report every quarter.

Words you'll meet

Key terms

Deal wins (TCV): The total value of new contracts signed in a period, spread over the years the work will run.
Attrition: The share of employees who left the company over the past year.
Utilisation: The share of billable engineers who are actually working on paid client projects.
Constant-currency growth: Revenue growth with exchange-rate moves taken out, to show the underlying change in business.
Onsite and offshore: Work done at the client's location abroad versus work done from India, which usually costs less to deliver.
BFSI: Banking, financial services and insurance clients, usually the largest customer group for Indian IT firms.

Key facts

Information Technology in numbers

How much software and IT-enabled services did India export in FY25?: Indian companies exported an estimated US$204.7 billion of software services in FY25 (2024-25), up 7.3% from FY24, according to the RBI's annual survey. This excludes sales through their overseas offices. (Source: Reserve Bank of India)
Which regions buy most of India's software exports?: In FY25, the United States took 52.9% of India's software services exports and Europe took 32.8%, per the RBI survey. The US share was 54.1% in FY24. (Source: Reserve Bank of India)
In which currency are India's software exports billed?: In FY25, 72.0% of India's software exports were invoiced in US dollars, 9.6% in euros, 7.1% in rupees and 6.0% in pounds sterling, per the RBI survey. (Source: Reserve Bank of India)

Sources

Survey on Computer Software and Information Technology Enabled Services Exports: 2024-25 (press release), Reserve Bank of India, 4 Nov 2025

Last updated 25 Oct 2026.

Disclaimer

For learning only. Cityfort is not a SEBI-registered adviser and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

Investing in securities involves risk, including loss of capital. Before making any investment decision, do your own research and consider consulting a SEBI-registered investment adviser.

Cityfort, its owners and contributors may or may not hold securities of companies covered. Content is not an offer or solicitation to buy or sell any security.

Read the full disclaimer

Cityfort publishes educational content that explains how listed companies work. Cityfort is not registered with the Securities and Exchange Board of India (SEBI) as an Investment Adviser or Research Analyst and does not provide investment advice, recommendations, ratings, price targets or any opinion on whether to buy, sell or hold any security.

All information is taken from publicly available sources, mainly company filings on BSE and NSE, which are listed on each page with dates. We work to keep it accurate and correct errors publicly, but we do not guarantee that it is complete, accurate or up to date. Any market price or price-based ratio shown is dated, may be out of date by the time you read it, and is included only to explain concepts.

Statements by company management are reported as statements, with their date and source; they are not our forecasts.