Fact-checked by Grok 2 weeks ago

Software Technology Parks of India

The Software Technology Parks of India (STPI) is an autonomous society established on 5 June 1991 under the Ministry of Electronics and Information Technology, , with the core objective of promoting the development and export of computer software, including professional IT-enabled services. Operating as an export-oriented scheme, STPI provides dedicated infrastructure, single-window clearances for approvals, incubation facilities, and data center support to registered units, enabling rapid scaling of IT operations without the need for physical shipment of software products. STPI's network spans over 60 centers and parks across , fostering a ecosystem that has registered more than 10,000 units and incubated thousands of startups, thereby catalyzing the growth of the domestic IT/ITeS sector. In 2024-25, exports from STPI-registered units surpassed ₹10 , representing over half of 's total software exports and underscoring the scheme's effectiveness in driving foreign exchange earnings through high-value services. Key achievements include pioneering 100% in the sector, facilitating softex-based export certifications, and supporting the transition from nascent software firms to global giants, which propelled India's IT industry from negligible exports in the early to a multi-billion-dollar powerhouse. While the scheme faced adjustments such as the phasing out of tax holidays post-2011, leading to some unit relocations, its foundational role in policy reforms like delicensing and infrastructure provisioning remains instrumental in sustaining competitive advantages amid evolving global demands.

History and Establishment

Origins in India's IT Policy Evolution

India's software sector emerged within a protectionist economic framework that initially prioritized hardware self-reliance and restricted foreign technology imports, limiting software development to domestic body-shopping—exporting programmers abroad—by firms such as Tata Consultancy Services starting in 1974. High tariffs, reaching 135% on hardware and 100% on software media, coupled with the Foreign Exchange Regulation Act of 1973 capping foreign ownership at 40%, deterred investment and innovation until policy shifts in the mid-1980s. These constraints stemmed from a statist approach that viewed IT as a strategic sector for national security rather than export potential, resulting in negligible software exports prior to liberalization efforts. The New Computer Policy of 1984 represented a foundational reform by slashing import tariffs to 60%, delicensing software production, and granting tax holidays on export earnings, enabling the establishment of 100% export-oriented units and attracting pioneers like , which set up an offshore facility in in 1985. This policy, introduced under , aimed to exploit India's reservoir of talent for global custom software services while fostering domestic capabilities through reduced barriers to imported hardware. Complementing it, the Software Policy of 1986 promoted exports via data communication infrastructure, permitting duty-free computer imports and international links through Videsh Sanchar Nigam Limited (VSNL) gateways, though annual costs—such as Rs. 45 lakhs for a 64 Kbps circuit—restricted access primarily to large firms. Persistent challenges, including protracted approvals for status under the Export Promotion Zone framework and inadequate dedicated , underscored the need for specialized to scale software s amid India's economic crisis and subsequent liberalization. The Department of Electronics responded by piloting Software Technology Parks in 1989 at , , and , which evolved into the formal STPI society established in under the ministry's aegis. This initiative provided single-window clearances, subsidized high-speed data via VSAT technology, and like reliable power and connectivity, directly addressing gaps by treating software as a green-channel akin to physical . By institutionalizing these measures, STPI catalyzed a transition from ad-hoc reforms to a structured , aligning IT with -led growth and positioning India as a low-cost in the .

Launch and Initial Setup in 1991

The Software Technology Parks of India (STPI) was formally established on June 5, 1991, as an autonomous society registered under the , under the Department of Electronics, (now the Ministry of Electronics and ). This launch resulted from the merger of three independent Software Technology Parks (STPs) initially set up as autonomous entities in , , and during the preceding years, creating a centralized framework to address bottlenecks in India's nascent software export sector, such as regulatory hurdles and infrastructure deficits. The initial setup prioritized rapid operationalization of export-oriented infrastructure, with STPI immediately incorporating the three merged centers while adding four new ones in , , , and to extend coverage across key regions. These hubs were designed to host 100% export-focused units, offering single-window clearance for approvals, duty-free imports of capital goods, and dedicated data communication channels via VSAT technology to enable seamless international software transmission, bypassing the era's restrictive import-export licensing under the Foreign Exchange Regulation Act. Early operations emphasized self-certification for exports and minimal bureaucratic intervention, marking a departure from prior industrial policies that had constrained IT growth; by 1992-93, initial units in centers like had commenced operations in modest built-up spaces totaling around 700 square meters. This foundational structure laid the groundwork for STPI's role in fostering a hub-and-spoke model, where central directorates provided statutory services and peripheral nodes supported local software firms with and .

Organizational Structure

Governance under MeitY

The Software Technology Parks of India (STPI) operates as an autonomous scientific and technological society registered under the Ministry of Electronics and (MeitY), providing it with operational independence while remaining subject to ministerial oversight for alignment and . Established in 1991 through the merger of initial software parks initiated in 1989, STPI's governance framework ensures promotion of software exports and IT-enabled services under MeitY's directives, with adhering to norms such as depositing at least 60% of funds in public sector banks. This structure facilitates single-window services for exporters while maintaining accountability to MeitY through integrated administrative controls. At the apex of STPI's governance is the Governing Council (GC), which directs overall functioning, approves budgets, and sets policy directions in coordination with MeitY. Chaired by the Union Minister for (currently Shri ), the GC includes representatives from key ministries such as , , Home Affairs, and , alongside MeitY officials and IT industry associations. The Secretary of MeitY serves as Executive Vice Chairperson, embedding direct ministerial influence, while the acts as Deputy Chairperson; this composition ensures strategic alignment with national IT policies. The of STPI functions as the Member Secretary of the and holds executive authority for day-to-day operations, including implementation of schemes like the Software Technology Park () and Electronics & Technology Park (EHTP). Supporting bodies include the Executive Committee of Directors (ECOD), which scrutinizes proposals on budgets, staffing, and , potentially delegating to a Finance Sub-Committee, and the Standing Executive Board (SEB) at state levels for localized industry interfacing and center-specific planning. Senior Directors oversee headquarters functions related to export schemes, while center Directors manage technical and administrative operations, all under and MeitY guidelines to foster innovation and export growth without direct bureaucratic interference.

Network of Centers and Directorates

The Software Technology Parks of India (STPI) operates through a decentralized network comprising a in and regional outposts designed to facilitate software exports and IT/ITeS industry growth across the country. The , led by the , serves as the central administrative hub, coordinating policy implementation, financial oversight, and national-level initiatives under the Governing Council. STPI maintains 14 jurisdictional directorates, each headed by a or who functions as the technical and administrative authority for designated regions, handling STP/EHTP scheme approvals, unit registrations, and compliance monitoring. These directorates oversee operational aspects such as , single-window clearances, and , ensuring localized support while aligning with national export promotion objectives. Examples include directorates in major hubs like and , which extend jurisdiction over multiple states and union territories to streamline services for exporters. Complementing the directorates are 68 STPI centers spread pan-India, with 60 located in Tier-II and Tier-III cities to decentralize technological and foster in non-metro areas. These centers, established progressively since 1990 in locations such as , , and , provide on-ground facilities including data connectivity, incubation spaces, and R&D labs for registered units. Each center operates under a state-specific Standing Executive Board, which interfaces with local governments and industry to prepare expansion plans, budgets, and infrastructure needs. This structure has enabled STPI to support over registered units, contributing to software exports exceeding $194 billion as of recent fiscal data.

Objectives and Incentives

Core Export Promotion Goals

The Software Technology Parks of India (STPI) scheme operates as a 100% export-oriented framework, requiring registered units to direct their entire output of , IT-enabled services, and related products toward international markets. This structure, initiated in 1991, seeks to accelerate India's integration into global software trade by eliminating domestic sales obligations, thereby incentivizing firms to prioritize scalable export models over localized consumption. Central to these goals is the provision of streamlined single-window services, encompassing approvals for registration, import-export documentation, customs facilitation, and connectivity infrastructure, which minimize bureaucratic delays and operational hurdles for exporters. Duty-free importation of capital equipment, components, and consumables is permitted exclusively for export production, lowering entry barriers and enhancing cost efficiency against foreign competitors. STPI further advances export promotion by supporting and development practices, where software can be partially created abroad but counted toward quotas if ownership and value addition occur within registered units. Complementary efforts include market intelligence through technology assessments, segmentation analyses, and promotional outreach to identify overseas opportunities, alongside for high-bandwidth links to sustain . These measures collectively aim to cultivate a self-sustaining for software , particularly among , by linking domestic directly to foreign revenue streams.

Single-Window Services and Fiscal Benefits

The Software Technology Parks of India (STPI) scheme implements a single-window clearance mechanism to expedite approvals for establishing and operating 100% export-oriented units (EOUs) focused on and exports. This system centralizes statutory services, including project approvals, import/export certifications, software valuation, and net foreign exchange earning certifications, reducing bureaucratic delays for units that can be located anywhere in without mandating physical infrastructure within designated parks. Jurisdictional STPI centers handle clearances for projects with Indian investments up to ₹100 million, while permitting 100% foreign equity investment under the automatic route. Fiscal incentives under the STPI scheme emphasize export facilitation rather than direct holidays, as the 10-year tax exemption on export profits under Section 10A of the Act expired for new units after assessment year 2011-12 and was not extended. Remaining benefits include customs duty exemptions on imports of capital goods, , and software exclusively used for , with capital goods sourced from the (DTA) qualifying for concessional treatments. Domestic sales are allowed up to 50% of a unit's prior year's export value, subject to applicable duties and taxes, ensuring net foreign exchange positivity. Under the Tax () regime, STPI exports qualify as zero-rated supplies, enabling units to claim refunds on input taxes paid, maintaining tax neutrality for exporters while complying with GST refund procedures. These provisions, combined with the single-window framework, support operational efficiency for software exporters, though units must achieve at least 75% export orientation in some contexts to retain incentive eligibility.

Infrastructure and Facilities

Development of Technology Parks

The Software Technology Parks of India (STPI) initiated the development of technology parks in the early 1990s to provide dedicated for software exports, beginning with of three initial parks in , , and in 1990. These parks were designed as 100% export-oriented zones, offering built-up office spaces, high-speed links, uninterrupted , and core facilities to enable seamless international connectivity for firms. By merging these initial setups under the newly formed STPI society in 1991, the government formalized a nationwide framework for park development, prioritizing locations with potential for IT growth and equitable regional distribution. Expansion accelerated in the mid-1990s, with STPI adding centers in , , , and by 1991, reaching a total of 10 parks, followed by in 1995. Further growth in 1998 incorporated , , and , bringing the network to 14 centers, while 2000 saw additions in and , totaling 16. A significant surge occurred by 2001, expanding to 33 centers, emphasizing secondary and tertiary cities to decentralize IT activity from metros. This phased rollout involved site selection based on infrastructure readiness, land acquisition through state partnerships, and construction of ready-to-occupy facilities, often in collaboration with local governments to ensure scalability for hosting multiple units under the STP scheme. By 2024, STPI's network had grown to 68 operational centers, with 60 located in Tier-II and Tier-III cities, reflecting a strategic shift toward and reduced urban congestion. Infrastructure development evolved to include advanced features such as data centers for , specialized incubation centers for startups, and domain-specific labs for emerging technologies like , , and , supporting over 10,000 registered units. Recent approvals for 20 additional centers as of July 2024 underscore ongoing efforts to enhance plug-and-play ecosystems with 100% FDI allowance, high-reliability networks, and single-window clearances for rapid occupancy. This infrastructure has directly facilitated export growth, from ₹52 crores in 1992-93 to ₹8,48,398 crores in 2022-23, accounting for 50% of India's software exports.
YearKey AdditionsTotal Centers
1990, , 3
1991, , , (among others)10
199511
1998, , 14
2000, 16
2001Multiple expansions33
2024Ongoing network68

Specialized Incubators and Entrepreneurship Centers

STPI has established Centres of Entrepreneurship (CoEs) as specialized incubators targeting emerging technology domains, including , , , , AR/VR, electronics system design and manufacturing (ESDM), and analytics, medical electronics and healthcare, gaming and animation, , and cybersecurity. These facilities, numbering 24 as of 2024, deliver domain-tailored infrastructure such as hardware and software labs, alongside handholding through mentoring, investor networking, and skill development programs in partnership with government entities, industry leaders, academia, and firms. Examples include the Electropreneur Park in for ESDM, MOTION in for mobility technologies, and in for analytics, each designed to accelerate product development and commercialization in niche areas. Complementing the CoEs, STPI's Next Generation Incubation Scheme (NGIS), launched under the Ministry of Electronics and Information Technology (MeitY) with a ₹95.03 crore allocation over three years, focuses on software product startups in 12 Tier-II cities including , , , , , , , , , , , and . The program provides ready-to-operate incubation spaces with no capital outlay or gestation period required, seed funding up to ₹25 lakhs per startup, monthly stipends of ₹10,000 for six months to pre-incubation entities, credits, labs, and advisory services on , legal matters, rights, and market entry. By March 2025, NGIS had supported 685 startups, disbursed seed funding to 136, and facilitated over 7,000 direct and indirect jobs. Specialized initiatives within these centers include the CoE's Propel pre- program, introduced in June 2024 to nurture blockchain-based ventures through technology access, mentorship, and ecosystem integration. Similarly, the Samarth Incubation Program, a with C-DOT, targets and IT startups with funding, infrastructure, and market linkages. STPI's broader efforts, operational since 1992, emphasize plug-and-play facilities for IT/ITeS SMEs, featuring high-speed , uninterruptible power supplies, 24/7 security, and scalable workspaces accommodating 15 to 100 employees, thereby minimizing entry barriers for high-tech .

Key Initiatives and Schemes

India BPO Promotion Scheme

The India BPO Promotion Scheme (IBPS), launched under the Programme by the Ministry of Electronics and Information Technology (MeitY), aims to foster the growth of (BPO) and information technology enabled services (ITES) in tier-2 and tier-3 cities across . Implemented by the Software Technology Parks of India (STPI), the scheme targets the creation of 48,300 operational seats to generate direct employment opportunities, particularly for local youth in smaller towns, while promoting balanced regional socio-economic development. Financial incentives under IBPS are provided through viability gap funding (VGF), with support capped at ₹1 lakh per seat, determined via an open competitive bidding process to ensure efficient allocation. The total outlay for the scheme stands at ₹493 crore, covering operational viability for up to three years from the commencement of BPO/ITES activities, excluding major tier-1 cities like Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, and Pune. Eligible applicants, typically private limited companies or limited liability partnerships, must enter a master service agreement (MSA) with STPI, furnish a bank guarantee equivalent to 10% of the projected grant, and demonstrate operational readiness including infrastructure and staffing plans. By December 2022, IBPS had facilitated the operationalization of 246 BPO/ITES units across 27 states and union territories, yielding over 51,584 direct and an estimated multiplier effect of additional indirect . Earlier milestones included over 40,000 by mid-2021, with the scheme's potential extending to 1.5 direct positions assuming three-shift operations. Claims submission via the dedicated portal (ibps.stpi.in) concluded on August 16, 2024, marking the scheme's primary phase closure, though STPI continues oversight for ongoing units. This initiative complements STPI's broader mandate by decentralizing BPO activities from urban hubs, leveraging local talent pools and reducing urban migration pressures.

Startup and Innovation Support Programs

STPI operates 24 Centres of Entrepreneurship (CoEs) dedicated to nurturing startups in emerging technologies such as , and data analytics, , AR/VR, AgriTech, gaming, and electronics system design and manufacturing (ESDM). These centers offer plug-and-play infrastructure, specialized labs (e.g., RF, , , and labs), mentorship from industry experts, linkages, and R&D support, with a target to incubate over 1,900 startups and facilitate job creation. Examples include the FinGlobe CoE in , providing 50 seats for ventures; the IoT OpenLab in , aiming to support 500 startups over five years; and the Electropreneur Park in , which has incubated 25 startups, generated 18 patents, and achieved ₹25 in revenue. Regional CoEs like in North Eastern focus on internetworked hubs to incubate startups in underserved areas, targeting 50 ventures annually in some cases. The Next Generation Incubation Scheme (NGIS), initiated in 2020, supports early-stage startups developing software products, including embedded electronics, through facilities in 12 Tier-II cities such as , , and . NGIS emphasizes single-window services for registration, infrastructure access, and market linkages to accelerate product commercialization. Complementing this, the Leap Ahead initiative provides tech startups with up to ₹10 million in funding, intensive training programs, mentorship, and global networking to bridge gaps in scaling operations. STPI facilitates innovation through events and collaborations, including the SANGAM 2025 conclave for startup-industry matchmaking and investor connects, and international exposure at forums like VivaTech 2025, where incubated startups in , automotive software, and voice showcased solutions. Partnerships with MeitY and state governments enhance seed funding access under schemes like Startup Seed Fund, with STPI CoEs serving as approved incubators. These programs prioritize empirical outcomes, such as patent filings and export readiness, over unsubstantiated hype, drawing on STPI's legacy in IT export facilitation since 1991.

Economic Impact

Export Growth Statistics

Software exports from STPI-registered units have demonstrated substantial year-on-year expansion, driven by policy incentives and . In 1992-93, exports totaled Rs. 52 crores, marking the initial phase of the scheme's impact on India's nascent software sector. By 2022-23, this figure had surged to Rs. 8.48 crores, accounting for roughly 50% of India's national software exports and contributing 2.3% to the country's GDP that year. From 2010-11 to 2022-23, STPI exports quadrupled, rising from Rs. 2.15 crores to Rs. 8.48 crores, with a notable 35% increase between 2021-22 (Rs. 6.28 crores) and 2022-23 alone. This trajectory continued into recent years, with exports exceeding Rs. 9 crores in 2023-24 and reaching approximately Rs. 10.64 crores in 2024-25, aligning with broader national IT export growth from USD 147 billion in 2019-20 to an estimated USD 224.4 billion in 2024-25. The following table summarizes key annual export figures for STPI-registered units:
Exports (Rs. Lakh Crores)Year-over-Year Growth (%)
2010-112.15-
2021-226.28-
2022-238.4835
2023-24>9.00-
2024-2510.64-
This growth underscores STPI's role in bolstering India's position as a global IT exporter, though it remains concentrated in six states—, , , , , and —which generated 95% of STPI exports in 2022-23.

Contributions to IT Sector and Employment

The Software Technology Parks of India (STPI) scheme, initiated in , has significantly bolstered the IT sector by establishing dedicated infrastructure for and exports, including high-speed data communications and single-window regulatory approvals, which facilitated the clustering of IT firms and rapid scaling of operations. This infrastructure support enabled registered units to focus on export-oriented activities, driving the sector's transition from nascent domestic services to a globally competitive export powerhouse. STPI-registered units' software exports expanded from ₹52 crore in fiscal year 1992–93 to ₹8.48 lakh crore in 2022–23, accounting for roughly 50% of India's national software exports and contributing 2.3% to the country's GDP during that period. By fiscal year 2024–25, these exports reached ₹10.64 lakh crore (approximately US$124.56 billion), reflecting sustained growth amid global demand for Indian IT services. This export momentum has enhanced India's share in the global IT market, with STPI's 68 centers—60 of which are in Tier-II and Tier-III cities—promoting decentralized and reducing over-reliance on metro hubs like and . In terms of , STPI has generated 2.98 direct jobs in non-metro cities through its units as of March 2025, alongside approximately 9,800 additional positions from supported startups under schemes like the Next Generation Incubation Scheme (NGIS). These efforts have extended IT job opportunities to underserved regions, fostering skill development in , , and related fields, while STPI's support for 1,121 startups via funding and has further amplified job creation in emerging areas such as IT-enabled services (ITeS) and electronics system design. Overall, STPI's model has contributed to the IT sector's labor-intensive growth, with units playing a pivotal role in absorbing skilled graduates and enabling indirect through supply chains and ancillary services.

Awards and Recognitions

STPI IT Export Awards Framework

The STPI IT Export Awards Framework constitutes an annual recognition mechanism administered by the Software Technology Parks of India (STPI), under the Ministry of Electronics and , to identify and commend high-performing registered units in software exports, IT-enabled services (ITES), and electronics hardware based on quantifiable metrics such as export volumes, growth rates, and employment generation. Established to foster competitive excellence and align with STPI's mandate of promoting IT/ITES exports since its inception in , the framework evaluates participants primarily through submitted via STPI's regulatory reporting systems, emphasizing verifiable export earnings in . Awards are conferred regionally, often at events like the Tech Summit, with ceremonies documented for fiscal years such as 2018-19 and 2023-24, ensuring alignment with national export targets. Under the framework, are structured across approximately 10 primary categories that encompass the spectrum of IT, ITES, and hardware sectors, including distinctions for top overall , highest growth in , trailblazing startups, women-led enterprises, and firms excelling in or employment metrics. Eligibility is restricted to STPI-registered entities, which must demonstrate compliance with export obligations—typically 100% of output in —and provide audited performance data on parameters like total , year-over-year growth, total employment, and women employment shares. For instance, categories have historically prioritized metrics from specific fiscal periods, such as and job creation in 2018-19, to reward scalable contributions to India's IT , which exceeded $194 billion in FY 2023-24 per data aggregated through STPI channels. The selection process relies on objective performance rankings derived from STPI's of unit filings, without explicit public disclosure of weighted scoring algorithms, though outcomes favor entities achieving thresholds in export value (e.g., top performers in regions like or ) and ancillary indicators like in . This data-driven approach mitigates subjectivity, as STPI verifies submissions against statutory returns under the Foreign Trade Policy, but it inherently privileges larger exporters with robust reporting capabilities over nascent units. Regional variations adapt the framework to local ecosystems, as seen in awards for 2023-24 recognizing IT/ITES leaders in export acceleration. Recipients gain visibility for , though the framework's emphasis on volume metrics has drawn implicit critique for underweighting relative to exports.

Notable Award Categories and Winners

The STPI IT Export Awards recognize outstanding performance in software exports, with categories generally spanning 7 to 10 main groups focused on export volumes, growth rates, employment generation, and sector-specific achievements in IT, ITES, and . These include brackets for high growth in (e.g., Rs 5-100 range), top overall exporters, MSME performers, and regional specialties like . Awards are conferred annually at regional events, often tied to tech summits, with criteria emphasizing verifiable export data submitted to STPI. Notable winners in high-growth categories include , awarded Best Performance in High Growth in Exports for in 2023-24, highlighting rapid expansion in services. In West Bengal's 2022-23 awards, () received the IT Ratna title as the top IT exporter, based on substantial export volumes from the region. Cerium Systems claimed the High Growth in IT/ITES Exports (Rs 5-100 ) category at the 2020 Bengaluru Tech Summit.
CategoryNotable WinnerYear/RegionSource
Highest Exporter Development Centre (India) Pvt. Ltd.2023-24,
Best Performer – IT/ITES (Regional) Ltd.2023-24, Mysuru
High Growth in Incap India (recent)
Best IT Exporter (Under Rs 25 Crore)Xplore-Tech Service Pvt. Ltd.
Special recognitions, such as Glory of , have gone to firms like Electronic Data Processing India for sustained contributions. These awards underscore STPI's role in benchmarking competitiveness, though selections rely on self-reported audited by STPI, prioritizing empirical metrics over qualitative factors.

Recent Developments

Expansions and New Centers Post-2020

Following the onset of the , the Software Technology Parks of India (STPI) accelerated its expansion strategy to bolster in tier-2 and tier-3 cities, aiming to decentralize tech growth and support ecosystems. Between 2021 and 2023, STPI established additional centers, reaching a total of 63 operational facilities by February 2023, with the government approving 22 more to enhance regional connectivity and export capabilities. By mid-2024, this figure rose to 65 established centers, alongside approvals for 20 further sites proposed by state governments to address infrastructure gaps in underserved areas. These developments prioritized incubation hubs and co-working spaces over traditional large-scale parks, facilitating over 2.98 direct and indirect jobs in non-metro regions by August 2025. In the last five years through 2025, STPI inaugurated nine new incubation centers, including in , (2022); and , (2023–2024); Kochi, Kerala (2024); and again for expansion (2024). Notable among these was the STPI center in , , launched as the 61st facility to promote skill development in the northeast. (), , became the 66th center, focusing on local IT/ITES startups. By June 2025, the network had grown to 67 centers, with 59 in smaller cities, and reached 68 by late 2025 following inaugurations in , , and an upgraded incubation facility in , , spanning approximately 1 square feet and equipped for 100 startups. Early 2025 saw further openings, such as the state-of-the-art facility in Mysuru, , in , designed to host IT/ITES firms and startups in the Hebbal industrial area with high-speed connectivity. A new incubation center in Kolkata, West Bengal, was inaugurated in February, expanding capacity for eastern region tech firms. These post-2020 initiatives, often in partnership with state governments, emphasized scalable infrastructure like Tier-III data centers and co-location services, though actual operationalization timelines varied due to land acquisition and regulatory approvals. By October 2025, of the 68 total centers, 60 were in tier-2 and tier-3 locations, reflecting a deliberate shift toward inclusive growth.

Focus on Deep Tech and Regional Spread

Post-2020, the Software Technology Parks of India (STPI) has intensified its efforts in domains, including , , (IoT), and electronics system design and manufacturing (ESDM). This focus manifests through specialized Centers of Excellence (CoEs), such as the CoE for innovation, which supports startups in developing scalable solutions for global markets. Additionally, the LEAP AHEAD incubator targets early-stage ventures addressing large-scale Indian and emerging market needs, providing , , and infrastructure. STPI's 2024 "Exploring The DeepTech Landscape" report highlights growth drivers like government programs and corporate investments while addressing challenges in funding and talent for revolutionary technologies tackling societal issues. STPI has actively promoted via events and showcases, including the SANGAM 2025 conclave, which featured thematic displays in alongside and , fostering collaborations among startups, investors, and industry. At the India Mobile Congress 2025, STPI exhibited startups innovating in , , and , underscoring its role in accelerating commercialization and export potential. These initiatives align with STPI's broader pivot from traditional software exports to nurturing product-based ecosystems, as evidenced by calls for innovators in ESDM and allied sectors through targeted programs. Complementing this, STPI has pursued regional decentralization by expanding to 68 centers nationwide as of 2025, with 60 located in Tier-II and Tier-III cities to disperse beyond metros and tap underutilized talent pools. Post-2020 expansions include approvals for 20 new centers in 2024, alongside inaugurations like the fifth in at in 2021, targeting areas such as , , , and . This strategy emphasizes ecosystem-building in non-metro regions, providing , skill development, and to drive inclusive IT/ITeS growth and reduce urban concentration.

Challenges and Criticisms

Export Market Dependencies

The Software Technology Parks of India (STPI) scheme mandates that registered units achieve 100% orientation for computer software and , with limited domestic sales permitted only under specific conditions requiring net earnings. This structure has cultivated a heavy reliance on foreign markets, particularly the , which accounted for 54% of India's software service (excluding overseas commercial presence sales) in 2023-24, totaling approximately US$190.7 billion in overall . The follows distantly with a smaller share, underscoring a lack of broad geographic diversification that heightens vulnerability to demand shocks in primary destinations. Such dependencies manifest in cyclical risks tied to client economies; for example, slowdowns in U.S. corporate spending during economic contractions, as seen in the 2008 global financial crisis when Indian IT export growth decelerated to single digits from prior double-digit rates, directly impacted STPI units' revenues due to their export-focused model. Policy uncertainties exacerbate this, including U.S. restrictions on H-1B visas, which constrain on-site talent deployment essential for service delivery, and potential protectionist measures like tariffs or regulations that could raise operational costs or limit market access. Currency volatility between the and the U.S. dollar further amplifies exposure, as export earnings in dollars face erosion from rupee appreciation, prompting calls for hedging but not eliminating the underlying . Efforts to mitigate these risks through diversification into emerging markets like and have yielded marginal results, with STPI exports from registered units reaching Rs. 9 trillion in FY24 yet remaining disproportionately anchored to North American demand. Critics argue this export-centric framework, while driving scale, discourages investment in domestic innovation or alternative revenue streams, rendering the ecosystem susceptible to geopolitical tensions or shifts in global trends, such as rising nearshoring preferences in the U.S. amid disruptions. initiatives, including incentives under the National Policy on Software Products-2019, aim to broaden but have not substantially altered the U.S.-centric profile as of 2024.

Limitations in Fostering Product Innovation

The Software Technology Parks of India (STPI) scheme, established in , tied fiscal incentives such as tax holidays and duty exemptions primarily to software revenues, which structurally favored service-based activities like offshore development and maintenance over high-risk requiring substantial upfront R&D . This -centric model, with initial 100% obligations for registered units to qualify for benefits, encouraged firms to prioritize cost-arbitrage-driven contracts from global clients rather than developing products, as the latter offered no direct linkage to metrics for incentives. As a result, STPI-registered entities predominantly engaged in low-to-medium value services, contributing to India's IT sector's persistent underinvestment in R&D; for instance, major service firms like and allocated only about 0.5% of their revenues to R&D in fiscal year 2024-25, compared to 10-20% typical for global product companies such as or . This disparity reflects a causal emphasis on scalable labor deployment for client-specific solutions—""—over cycles that demand iterative prototyping, patenting, and market risk, limiting the emergence of homegrown products with global value. Furthermore, STPI infrastructure, while enabling rapid scaling of export operations, provided limited support for collaborative ecosystems fostering spillovers, such as ties or for prototypes, unlike innovation hubs in developed economies; critiques highlight that this isolated parks as export enclaves, with minimal domestic or . Even recent initiatives, like the Next Generation Incubation Scheme (NGIS), have underperformed, failing to fund the targeted 300 startups by 2025 due to inadequate uptake and structural mismatches with needs. Overall, these limitations have constrained STPI's role in building a pipeline, perpetuating India's IT dominance in services while global peers advance through IP-driven advancements.

References

  1. [1]
    About Software Technology Parks of India (STPI)
    Oct 15, 2025 · The Mission of STPI is: To boost software exports and services from the country by promoting the IT/ITeS industry. Objectives.
  2. [2]
    Overview | Official Website of Software Technology Parks of India
    Oct 15, 2025 · Established on 5th June 1991, Software Technology Parks of India (STPI) ... STPI's main objective has been the promotion of software exports ...
  3. [3]
    Software Technology Parks of India (STPI) - IndiaFilings
    Aug 20, 2025 · Software Technology Parks (STPI) of India was established in 1991 as an autonomous society under the Ministry of Electronics and Information ...
  4. [4]
    STPI - Software Technology Parks of India - LinkedIn
    ... Technology (MeitY), Government of India, established in 1991, with a mandate to promote software exports from the country. Today, with 14 jurisdictional ...
  5. [5]
    Blogs - STPI aims to spread IT sector growth nationwide
    Jul 12, 2025 · Its registered units achieved software exports of over ₹10.59 lakh crore in FY 2024–25, accounting for $110 billion of the country's total ...
  6. [6]
    STPI observes its 34th Foundation Day: A Legacy of Enabling IT ...
    Oct 15, 2025 · In 2024-25, the exports done by STPI registered units have reached to more than ₹10 lakh crores. Aligned with the mandate of the Government of ...
  7. [7]
    STPI's Role in Transforming India's IT Sector - Elets CIO
    Oct 30, 2024 · Today, exports from STPI units have reached a staggering ₹9 lakh crore, which makes up over 50% of the country's total IT exports. “Three ...Missing: achievements | Show results with:achievements<|separator|>
  8. [8]
    Software Technology Park of India
    Aug 10, 2025 · Impact and Achievements​​ Since its inception, STPI-registered units have boosted India's software exports from ₹52 crore in 1992–93 to ₹8,48,398 ...
  9. [9]
    Firms move out of software parks after govt ends tax incentives - Mint
    Sep 24, 2013 · Firms move out of software parks after govt ends tax incentives. As many as 1,000 software and software services export units have moved out of ...
  10. [10]
    N Vittal: He laid Indian IT's policy foundations - Times of India
    Aug 11, 2023 · There were no restrictions on the geographical location of a software technology park. Companies could easily set up offices in locations where ...
  11. [11]
    [PDF] Origins and Growth of the Software Industry in India - AWS
    The paper explains the evolution of India's software industry. Domestic entrepreneurship emerges as the key factor for origination, survival and innovation ...
  12. [12]
  13. [13]
  14. [14]
    Our Journey - Software Technology Parks of India
    Sep 25, 2025 · 1991. The 3 STPs were merged to establish Software Technology Parks of India on June 5 that heralded a paradigm shift in addressing the ...
  15. [15]
    Background - STPI - Hyderabad - Software Technology Parks of India
    The first Computer Policy of 1984 and Software Policy of 1986 emphasised the concept of software development and export through data communication links.
  16. [16]
    Software Technology Parks of India | UKEssays.com
    May 1, 2017 · It is an export oriented scheme for the development and export of computer software, including export of professional services.Missing: controversies criticisms
  17. [17]
    About STPI Bhubaneswar - Software Technology Parks of India
    Oct 15, 2025 · STPI-Bhubaneswar had developed 700 sq. mt. ready-to-use space for member units. Three units started operation during FY 1992-93. The Growth ...Missing: initial Bangalore
  18. [18]
    About STPI - Management Structure
    STPI's management includes the Governing Council, Director General, Executive Committee of Directors, Standing Executive Board, Senior Director, and Directors.
  19. [19]
    Jurisdictional Directors - STPI - Chennai
    Jurisdiction, Address, Jurisdictional Areas, Jurisdictional Director, Email ID, Contact Number. Noida, Ganga Shopping Complex, Sector-29, Noida - 201303 ...
  20. [20]
    STPI Objectives - Software Technology Parks of India
    Oct 10, 2025 · STPI aims to promote software development and exports, provide services to exporters, data communication, and promote micro, small and medium ...
  21. [21]
    Statutory Services - Software Technology Parks of India
    Electronic Hardware Technology Park (EHTP) is a 100% export oriented scheme for manufacture of Electronic Hardware. ... Software Technology Parks of India ...
  22. [22]
    Functions of STPI - Software Technology Parks of India
    Oct 15, 2025 · 1To Establish Software Technology Parks/Centers at various Locations in the Country · 2To perform Financial Management Functions which comprise ...
  23. [23]
    Policy and Objectives | Software Technology Parks of India
    Sep 12, 2025 · To promote development and export of software services through technology assessments, market analyses, market segmentation and marketing ...
  24. [24]
  25. [25]
    STP Scheme | Official Website of Software Technology Parks of India
    Oct 15, 2025 · SCHEME BENEFITS & HIGHLIGHTS. Approvals are given under single window clearance system. An STP unit may be set up anywhere in India.Missing: fiscal | Show results with:fiscal
  26. [26]
    Statutory Services - Software Technology Parks of India
    Oct 15, 2025 · Approvals are given under single window clearance system. A company ... The capital goods purchased from the DTA are entitled for tax benefits.Missing: fiscal | Show results with:fiscal
  27. [27]
    STPI and Non-STPI Registration - IndiaFilings
    Jul 30, 2025 · Some key benefits of STPI registration include exemption from import/customs duties, eligibility for 100% FDI through the automatic route, and ...Missing: current fiscal
  28. [28]
    STPI Unit and Non-STPI Unit - SKMC Global
    Oct 16, 2025 · The STPI programme was launched to provide world-class facilities, fiscal incentives, and policy support to attract IT start-ups and software ...
  29. [29]
    Setting up STPI Unit in Bangalore - Sahu & Associates
    Rating 4.4 (89) The tax benefits under the Income Tax Act Section 10A applicable to STP units has expired since March 2011. While the Government has chosen not to extend ...
  30. [30]
    Know Impact of GST on STPI Units and Export-Oriented Units (EOUs)
    Jun 25, 2025 · Zero-rated supply provisions under GST enable STPI and EOU exporters to claim refunds and remain tax neutral. · Exporters can file GST refund ...Know Impact Of Gst On Stpi... · Gst And Its Key Provisions... · Refund Of Output Gst And...
  31. [31]
    SEZ vs STPI vs Non-SEZ for GCCs in India - Ahlawat Associates
    May 30, 2025 · Nevertheless, STPI units need to export at least 75% of their services to be eligible for tax incentives. This model is particularly well-suited ...<|control11|><|separator|>
  32. [32]
    Export Incentives and Benefit Schemes in India - TaxTMI
    Jul 1, 2025 · A scheme for IT and ITeS exporters offering duty benefits and facilitation through STPI centers. Pros: Single-window clearance; operational ...
  33. [33]
    The Beginning | Official Website of Software Technology Parks of India
    Sep 25, 2025 · To establish and manage infrastructure resources such as Data Communication facilities, Core Computer facilities, Built-up space and other ...
  34. [34]
  35. [35]
    20 new Software Technology Parks of India (STPI) approved: MoS IT
    Jul 30, 2024 · ... (STPI), an autonomous society under the Ministry of Electronics and Information Technology (MeitY), has established 65 STPI centers nationwide.
  36. [36]
    STPI Centres of Entrepreneurship (CoEs)
    STPI CoEs enable a 360 degree support ecosystem in the form of Infrastructure (Hardware & Software labs), Knowledge & handholding, Funding & Investment ...
  37. [37]
    STPI Centres of Entrepreneurship (CoEs)
    Out of the 25+ New CoEs planned by STPI, 24 CoEs across emerging technologies are launched · Electropreneur Park at Delhi · MOTION at Pune · NEURON at Mohali ...
  38. [38]
  39. [39]
    STPI Organizes SANGAM 2025: A landmark conclave driving ... - PIB
    Mar 21, 2025 · The Software Technology Parks of India (STPI), an autonomous body under the Ministry of Electronics and Information Technology (MeitY) ...
  40. [40]
    Software Technology Parks of India, Apiary CoE Launches Pollen ...
    Jun 19, 2024 · The Pre-Incubation Program will focus on transforming blockchain ideas into innovative ventures by offering state-of-the-art technology, comprehensive ...
  41. [41]
    Samarth Incubation Program | C-DOT & STPI | Telecom & IT Startups
    Samarth Incubation Program by C-DOT & STPI empowers telecom and IT startups with funding, mentorship, infrastructure, and market access. Explore!
  42. [42]
    STPI Incubation Services
    ### Summary of STPI Incubation Services
  43. [43]
    IBPS | Official Website of Software Technology Parks of India
    Oct 15, 2025 · Special incentives toward employment of women & specially enabled persons. Incentive for generating employment beyond target & wider ...
  44. [44]
    BPO promotion Schemes
    The schemes provide financial support in the form of Viability Gap Funding (VGF) to eligible companies, with the following objectives: • Creation of employment ...
  45. [45]
    India BPO Promotion Scheme (IBPS)
    The India BPO Promotion Scheme (IBPS) , envisaged under Digital India Programme, seeks to incentivize establishment of 48,300 seats in respect of BPO/ITES ...
  46. [46]
    Govt BPO promotion scheme provides employment to over 40,000 ...
    Jun 19, 2021 · The BPO promotion scheme by the MeitY in partnership with STPI has enabled the expansion of BPO/ITeS companies in several tier 2 and 3 towns ...
  47. [47]
    India BPO Promotion Scheme: IBPS Scheme in 2020 - Interlink Capital
    The IBPS incentivizes BPO/ITES operations for employment, aiming for 48,300 seats with up to Rs. 1 lakh/seat support, and is implemented by STPI.
  48. [48]
    Government created 35000 BPO seats in small towns: IT Minister
    Dec 14, 2017 · The outlay for the 'India BPO Promotion Scheme' is Rs 493 crore ... Programme start date: September 30, 2025; Programme Fee: ₹7,02,000 ...
  49. [49]
    BPO Promotion Scheme - Eligibility & Application Process
    Dec 11, 2024 · BPO promotion scheme is a subsidy scheme under the Digital India Programme which seeks to establish nearly 48,300 seats in the BPO or ITES ...
  50. [50]
    India BPO Promotion Scheme (IBPS): A Guide for Prospective Bidders
    Sign a Master Service Agreement (MSA) with STPI. Submit financial, operational and infrastructure details to claim the grant. Provide a Bank Guarantee of 10% of ...
  51. [51]
    Achievements Made under Digital India Programme - PIB
    Dec 23, 2022 · The Government had launched the India BPO Promotion Scheme (IBPS) andthe North East BPO Promotion Scheme (NEBPS) under the Digital India ...
  52. [52]
    STPI Startup Ecosystem - Software Technology Parks of India
    Oct 15, 2025 · STPI has successfully launched 23 CoEs in emerging technology domains and targets to support 1,900+ startups while enabling them to create 500+ ...
  53. [53]
  54. [54]
    STPI Centres of Entrepreneurship - OCTANE
    Oct 15, 2025 · A group of eight internetworked CoEs to support technology-led innovation in the North Eastern India. Objective: To incubate startups in new ...
  55. [55]
    STPI Centres of Entrepreneurship - NEURON
    Oct 15, 2025 · Target Beneficiaries: It is targeted to support & nurture 50 startups per year. Duration: The CoE is proposed to be operational for five years ...
  56. [56]
    About Next Generation Incubation Scheme
    Oct 15, 2025 · NGIS has a budgetary outlay of Rs. 95.03 Crores over a period of 3 years. It targets to incentivize 300 select start-ups with seed-fund of upto ...
  57. [57]
    Leap Ahead Initiative For Tech Startups' Funding, Training, And ...
    Oct 15, 2025 · The programme supports tech startups with funding up to ₹10 million, intensive training, mentorship, and global networking opportunities.
  58. [58]
    STPI Organizes SANGAM 2025: A landmark conclave driving ... - PIB
    Mar 21, 2025 · STPI Organizes SANGAM 2025: A landmark conclave driving innovation, collaboration, and startup growth. Startups are the engines of ...
  59. [59]
    STPI Paves Global Pathways for Indian Startups at VivaTech 2025
    Jun 26, 2025 · The STPI incubated Indian startups at VivaTech included ventures operating at the cutting edge of AI, automotive software, and voice analytics.
  60. [60]
    Selected Incubators - Startup India Seed Fund Scheme
    seed funding,high touch portfolio ...
  61. [61]
    Data: Software Exports from STPI Units Quadrupled between 2010 ...
    Jun 21, 2024 · Software exports from STPI-registered units increased from Rs. 2,15,264 crores in 2010-11 to Rs. 8,48,398.2 crores in 2022-23, registering a ...<|control11|><|separator|>
  62. [62]
    IT services export from STPI register unit crossed Rs 9 trillion in FY24
    Jun 6, 2024 · IT services exports from STPI-registered units have crossed Rs 9 lakh crore in the 2024 financial year, a senior official said on Wednesday.Missing: figures | Show results with:figures
  63. [63]
    Software Technology Park of India (STPI) Network Fuels Tech ... - PIB
    Aug 6, 2025 · List of Centres of Entrepreneurship (CoEs) established during last five financial years. #. Name of the CoE with location. Domain/ Theme. Year ...
  64. [64]
    Indian Information Technology Sector and Its Growth - IBEF
    IT exports rose 12.48% in FY25, up from US$ 199.5 billion in FY24, with STPI-registered units contributing Rs. 10.64 lakh crore (US$ 124.56 billion). Export of ...
  65. [65]
    Events - STPI IT Exports Award Function
    Oct 15, 2025 · The awards have been categorized under 10 main categories, covering the entire spectrum of IT, ITES and Electronics & Hardware Exporting Companies.Missing: Framework | Show results with:Framework
  66. [66]
    Photo Gallery - STPI IT Export Awards 2023-2024
    Oct 10, 2025 · For any query regarding this website, please contact the Web Information Manager Email ID: webinfomgr[at]stpi[dot]in, Contact No.: +91-11- ...Missing: figures | Show results with:figures
  67. [67]
    STPI IT Export Awards West Bengal 2023-24 - LinkedIn
    Mar 28, 2025 · STPI - Software Technology Parks of India. 30,046 followers. 6mo. Report this post; Close menu. STPI IT Export Awards, West Bengal 2023-2024 ...
  68. [68]
    STPI Export Awards 2022-23: TCS emerges as top IT exporter from ...
    Dec 3, 2023 · STPI Export Awards 2022-23: TCS emerges as top IT exporter from Bengal · The company was crowned with the IT Ratna of West Bengal by the Software ...
  69. [69]
    Karnataka Govt announces STPI Export Awards for IT industry at ...
    Oct 15, 2025 · Here are the winners for various categories: High Growth in IT/ITES Exports (Exports greater than Rs 5 crore and up to Rs 100 crore) - Cerium ...
  70. [70]
    Microland honored with STPI Karnataka IT Export Awards 2023-24
    Nov 25, 2024 · Microland, India's leading IT infrastructure services company, has been conferred with the Best Performance in High Growth in Exports ...
  71. [71]
    Bengaluru Tech Summit 2024: STPI showcases 60 SAYUJ ...
    Nov 23, 2024 · STPI IT Export Awards 2024, honors Karnataka region's leading IT companies, acknowledging their remarkable contributions to technological growth ...Missing: criteria | Show results with:criteria
  72. [72]
    Incap India wins the prestigious exports award of STPI
    The award was granted by the STPI (Software Technology Parks of India) of Karnataka, and Incap was selected for the award "High Growth in Electronic Hardware ...Missing: notable | Show results with:notable
  73. [73]
    Xplore-Tech Wins Big at STPI IT Export Awards! - Fusion CX
    Xplore-Tech Service Private Limited was awarded the 'Best IT Exporter under 25 Crores' at the STPI IT Export Awards held in Kolkata.Missing: notable | Show results with:notable
  74. [74]
    Setting up of Software Technology Parks of India - PIB
    Feb 8, 2023 · Location · 1. Madhya Pradesh. Chhindwada · 2. Jabalpur · 3. Punjab. Amritsar · 4. Jharkhand. Dhanbad · 5. Jamshedpur · 6. Bokaro · 7. Uttar Pradesh.
  75. [75]
    STPI Network creates 2.98 lakh jobs in non-metros
    Aug 7, 2025 · List of 9 new STPI incubation centres established in last five years. Sl. No, State, Centre Name, Year of Establishment. 1, Bihar, Darbhanga ...
  76. [76]
    Kohima - STPI - Guwahati - Software Technology Parks of India
    STPI-Kohima is the 61st centre of Software Technology Parks of India inaugurated by Shri Rajeev Chandrasekhar, Hon'ble Union Minister of State for Skill ...
  77. [77]
    Prayagraj | Official Website of Software Technology Parks of India
    STPI launched its 66th centre at Koraput (Jeypore), Odisha & 67th centre at ... A new era for Bihar's tech innovation begins with inauguration of STPI…
  78. [78]
    News - STPI completes 34 years - Software Technology Parks of India
    Jun 6, 2025 · STPI started its journey with three centres, and at that time, the IT industry was at a nascent stage. Now, STPI has 67 centres across the ...
  79. [79]
    [PDF] government of india - Digital Sansad
    Aug 6, 2025 · The details are as follows: ○ 68 STPI centres have been established across the country, of which 60 are located in Tier-. 2 & Tier-3 cities.<|control11|><|separator|>
  80. [80]
    Mysuru's new STPI facility: A hub for IT Startups and Innovation
    Jan 12, 2025 · Software Technology Parks of India's new state-of-the-art facility in the Hebbal industrial area of Mysuru is all set to welcome IT/ITES companies, startups ...
  81. [81]
    Software Technology Parks of India (STPI), under the Ministry ... - PIB
    Feb 20, 2025 · The facility was inaugurated by Shri Jitin Prasada, Hon'ble Minister of State for Commerce & Industry and Electronics and Information Technology ...Missing: 2021-2025 | Show results with:2021-2025
  82. [82]
    STPI Data Center - Software Technology Parks of India
    Oct 15, 2025 · STPI is setting up state-of-the-art Tier-III standard Data Centre at its various Centres across India. These Data Centre will cater to the need of Govt. / PSUs ...Missing: expansions | Show results with:expansions
  83. [83]
    Blogs - Chains of Trust & Transformation - STPI - Hyderabad
    Jul 16, 2025 · India's blockchain revolution is gaining momentum with STPI's Apiary CoE augmenting deeptech startups—positioning the nation as a global ...
  84. [84]
    Partners - LEAP AHEAD - Software Technology Parks of India
    Oct 24, 2024 · We support early-stage deep tech & tech driven startups providing solutions to the large scale needs of India and with potential to serve ...
  85. [85]
    Exploring The DeepTech Landscape: Innovations, Opportunities ...
    Mar 8, 2024 · Government programs like the Clean Energy Research Initiative and the Atal Innovation Mission will strengthen the DeepTech ecosystem · Corporate ...
  86. [86]
    STPI showcases deep tech startups at India Mobile Congress 2025
    Oct 9, 2025 · STPI is showcasing deep tech startups at India Mobile Congress (IMC) 2025, featuring innovative solutions in AI, IoT, Blockchain, ...Missing: centers | Show results with:centers<|separator|>
  87. [87]
    STPI - Facebook
    Oct 16, 2025 · Calling Innovators! Are you building groundbreaking solutions in ESDM, Deep-Tech, IoT, or allied sectors? Here's your chance to accelerate ...
  88. [88]
    5th STPI in UP to be inaugurated tomorrow at Meerut Shall ... - PIB
    Dec 27, 2021 · With 11 jurisdictional directorates and 62 centres of which 54 in Tier-2/3 cities, STPI has expanded its presence pan-India to promote software ...
  89. [89]
    STPI's expansion spurs IT growth in India's non-metro cities, boosts ...
    Aug 7, 2025 · These initiatives have led to the creation of 2.98 lakh jobs in non-metro locations through STPI-registered units, with an additional 9,800 jobs ...<|separator|>
  90. [90]
  91. [91]
    USA Major Software Exports Destination With 54% Share
    India's exports of software services (excluding their sales through overseas commercial presence) increased by 2.8 per cent during 2023-24 to US$ 190.7 billion ...
  92. [92]
    [PDF] Report on Service Exports Reporting Form for FY 2023-24
    Jan 27, 2025 · SERF REPORT 2023-24 15. Table 2.4.2 Value of Software Exports -STPI during FY 2023-24. Sl. No. SAC. Service Code Description. Value of Export.
  93. [93]
    Software services export grows to $205.2 bn in FY24, US major ...
    Oct 18, 2024 · India's exports of software services (excluding their sales through overseas commercial presence) increased by 2.8 per cent during 2023-24 to $ ...
  94. [94]
    software-industry-promotion-gN1EDOtQWa
    India's IT-BPM industry (excluding e-commerce) is expected to reach at USD 283 billion, including exports of 224 USD Billion in FY2024-25 (E). The IT/ITeS has ...
  95. [95]
    'IT services export from STPI register unit crossed Rs 9 trillion in FY24'
    Jun 5, 2024 · IT services exports from STPI-registered units have crossed Rs 9 lakh crore in the 2024 financial year, a senior official said on Wednesday.
  96. [96]
    export of it industry services - PIB
    Feb 11, 2022 · The exports by IT/ITeS units in SEZs for the year 2020-21 were Rs. 5.1 lakh crore. National Policy on Software Products-2019: GoI has approved ...
  97. [97]
    THE IMPACT OF TARIFF WARS ON INDIA'S OUTSOURCED ...
    Apr 5, 2025 · Significantly higher rates have been imposed on major exporters including China (54%), Vietnam (36%), Thailand (36%), and Bangladesh (37%). This ...
  98. [98]
    [PDF] Year 2025: Two Scenarios For the Indian IT Industry
    The overall exports from the. STP units stood at USD 42.13 billion as of 2013-14 (Software Technology Parks of India, 2014). Thus, STPI, promoted by the ...Missing: statistics | Show results with:statistics<|separator|>
  99. [99]
    Despite AI onslaught, Indian IT firms' R&D spend muted
    Jun 7, 2025 · Infosys spent ₹850 crore in R&D spends (0.5 per cent of revenue), and Wipro too clocked 0.5 per cent of revenue as R&D at ₹430 crore. HCL Tech ...
  100. [100]
    India's software industry and its low R&D spending - Urbanomics
    Aug 6, 2025 · Leading Indian firms also invest less in R&D as a percentage of sales than their global counterparts… No Indian firm figures in the top 25 R&D ...Missing: expenditure revenue
  101. [101]
    STPI failed to meet start-up funding scheme targets, says DG Arvind ...
    Mar 21, 2025 · Software Technology Parks of India (STPI) has failed to meet the target of funding 300 start-ups under a central scheme, its Director General Arvind Kumar said.
  102. [102]
    India needs move beyond services, turn into a 'product nation'
    Mar 20, 2025 · Ashwini Vaishnaw made it clear that while India's services industry will continue to grow, the next big leap must come from product development.