India Achieves ₹7.73 Lakh Crore in Exports for FY26, Marking a 21.56% Surge from FY24 Driven by STP Scheme
In FY 2025-26, India’s Software Technology Park (STP) units achieved estimated exports of over ₹7.73 lakh crore, marking a significant growth of 21.56% from ₹6.36 lakh crore recorded in FY 2023-24. This increase reflects the success of the government’s STP Scheme, which aims to bolster the IT sector by promoting software and IT-enabled services (IT/ITeS) exports. The consistent growth in exports over the past three fiscal years—from ₹6,36,619.87 crore in FY 2023-24, rising to ₹6,88,194.11 crore in FY 2024-25 and further to ₹7,73,898.97 crore—demonstrates a robust upward trajectory in this segment.
For the common citizen, this growth in exports signifies potential job creation and economic opportunities in the IT sector, which has traditionally been a pillar of India’s economic landscape. Furthermore, the increase in exports could enhance foreign exchange reserves, contributing to a more favorable balance of payments. However, the decline in total investments by STP units, which fell from ₹10,709.92 crore in FY 2023-24 to ₹7,362.86 crore in FY 2025-26, raises concerns about the sustainability of this growth. If this trend continues, it may impact future capabilities in production and innovation within the sector.
Looking ahead, the government and the Ministry of Electronics and IT (MeitY) are likely to focus on addressing the decline in investment to ensure the continued success of the STP Scheme. Increased collaboration with the private sector may be necessary to stimulate further investments, especially as global demand for IT services evolves. Additionally, policies aimed at enhancing infrastructure and fostering innovation will be critical next steps to maintain India’s competitive edge in the global IT market as the number of registered STP units has shown an increase, indicating ongoing interest in the sector.
Source: The Hindu
(Expert Note: This report was independently prepared by the Wealthova Economy team.)