IT Exports from STPI Units Cross Rs 9 Lakh Crore Mark

New Delhi, Jun 6 (KNN) The Indian IT industry has achieved a remarkable milestone, with exports from Software Technology Parks of India (STPI) registered units surpassing the staggering Rs 9 lakh crore mark in the 2024 financial year.

This astronomical figure highlights the exponential growth and global dominance of the country's tech prowess.

The announcement was made by STPI Director General Arvind Gupta during the 33rd Foundation Day celebrations of the organisation on Wednesday.

"STPI has played a crucial and important role in nurturing the IT industry to reach this stage. The exports from STPI registered units have reached an incredible Rs 9.19 lakh crore," Gupta stated.

Reflecting on STPI's humble beginnings, Gupta noted that in its first year of establishment in 1991, the registered units reported exports of merely Rs 17 crore.

The meteoric rise to over Rs 9 lakh crore in just over three decades is a testament to the unwavering efforts of STPI and the resilience of the Indian IT sector.

STPI's journey has been intrinsically linked to the growth of the tech ecosystem in the country.

With 65 centres across India, including 57 in tier 2 and tier 3 cities, the organisation has played a pivotal role in driving employment, revenue generation, and the migration of business process outsourcing (BPO) operations to smaller cities.

Gupta emphasised STPI's mandate to expand entrepreneurship and the IT-ITeS industry beyond metropolitan hubs. "The Ministry has mandated us to expand entrepreneurship, expand IT-ITeS industries to tier 2, tier 3 cities.

As a result of that, we have 55 centres across the country which are in tier 2 and tier 3 cities. We have created a lot of employment, lot of revenue, and migration of BPO's to tier 2 and tier 3 cities."

With 24 entrepreneurship centres nurturing over 1,000 startups across various domains, STPI continues to foster innovation and provide a nurturing environment for budding tech entrepreneurs.

The monumental achievement of crossing Rs 9 lakh crore in exports underscores India's emergence as a global tech superpower and the pivotal role played by STPI in catalysing this remarkable growth journey.

(KNN Bureau)