Indian IT Companies Dominate Forex

Indian IT giants outshine oil, gas, and other sectors in forex revenue, marking a trend in FY23.

IT Firms' Remarkable Growth

Listed IT companies report a 20.7% YoY surge in forex revenue, while manufacturing sees a 5% dip in FY23.

Resilience Amid Slowdown

IT services maintain export growth amidst India's goods export slowdown, contributing to their forex revenue lead.

Long-Term Growth Trajectory

IT sector's export revenue expands at a CAGR of 14.6%, surpassing other sectors with a 4.8% CAGR over five years.

IT Sector Outperforms Oil Refiners

IT companies exceed crude oil refiners in export revenue, with a 13.7% CAGR, while oil and gas grew at 4.2%.

Top Exporters

Reliance, TCS, and Infosys lead FY23 exports, highlighting the IT sector's dominance.

Robust Forex Surplus

Unlike crude oil refiners, IT companies maintain a significant forex surplus, reinforcing their export prowess.