Exports through STPI units grown from Rs.17 crores in FY92 to Rs.5.69 lakh crore in FY22: DG, STPI

New Delhi, June 6, 2022: Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY), Government of India working with the objective of encouraging, promoting, boosting Software Exports, and nurturing the startup ecosystem in the country celebrated 31st Foundation Day on the 6th June 2022.

“Exports through STPI units have grown from Rs. 17 crores in FY92 to Rs. 5.69 lakh crore in FY22, this has happened because we have been an enabler, we have never acted as a regulator. We have shown to this world that if you want to see the growth of industry, in place of regulating it, enable it,” underlined Arvind Kumar, Director General of STPI.

In line with the resounding success of the Indian IT services industry, STPI is now also augmenting itself to become a catalyst to make India a Startup and Product Nation. In this endeavor, STPI has launched 20 Centres of Entrepreneurship and 12 NGIS centres across the country to accelerate innovation-led entrepreneurship in emerging technology domains.

Speaking on the inaugural address at the 31st Foundation Day ceremony Arvind Kumar congratulated all the employees and said, “STPI has won the trust of all stakeholders including government & industry in STPI and this trust infuses transparency in the organization.”

STPI started its journey from 3 centers and now has 62 centers pan-India with 54 centres in Tier II and Tier III cities. Today, the US$200-plus billion IT industry, comprising 18,000-plus firms that directly employ 4.47 million-strong workforce, that contributes 8% of GDP is a testimony to the STPI’s resolute performance in transforming the Indian IT industry into a global outsourcing destination for software exports.

The first historic event that heralded the genesis of the IT Industry in India was the establishment of three Software Technology Parks at Bhubaneswar, Bengaluru, and Pune in 1989. Consequently, on 5th June 1991, these three STPs were merged to create a single entity Software Technology Parks of India.