Export Destinations

USA & UK continues to be major markets for the IT software and services exports. However the share of USA has declined from 68.3 per cent in FY2005 to 60 per cent in FY2008, whereas that of Europe has increased from 23.1 per cent to 31 per cent over the same period. Markets across Continental Europe and the Asia Pacific are also witnessing significant year-on-year growth. This trend towards a broader geographic market exposure is positive for the industry, not only as de-risking measure but also as a means of accelerating growth by tapping new markets.