IT services export from STPI register unit crossed Rs 9 trillion in FY24

IT services exports from Software Technology Parks of India (STPI)-registered units have exceeded Rs. 9 lakh crore (US$ 107.91 billion) in the 2024 financial year, announced Director General Mr. Arvind Gupta during STPI's 33rd Foundation Day. He unveiled 'Ananta,' an initiative aimed at developing India's sovereign cloud journey, branding it as a hyperscale cloud made by Indians for Indians. Ananta will offer a range of services, including Compute Infrastructure Services (IAAS), PAAS, SAAS, and GPU-based services. He also highlighted STPI's crucial role in nurturing the IT industry, noting that exports from STPI-registered units have now reached Rs 9.19 lakh crore (US$ 110.19 billion), a significant increase from the Rs 17 crore (US$ 2.04 million)reported in 1991.

During the event, STPI signed a memorandum of understanding (MoU) with Sabudh Foundation to create skill-development initiatives and foster an entrepreneurial training ecosystem in DeepTech for engineering graduates. Another MoU was exchanged between STPINEXT initiatives and DBS Bank India to strengthen the tech startup ecosystem. Gupta mentioned that STPI now operates 65 centres, 57 of which are in tier 2 and tier 3 cities, expanding IT-ITes industries and creating significant employment and revenue. STPI has also established 24 entrepreneurship centres nurturing over 1,000 startups, with plans to launch the Ananta platform in collaboration with Yotta to provide essential cloud services to startups and small IT industries, aiding in the development of deep tech products.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.