In a major development, Information Technology firms registered with the Software Technology Parks of India (STPI) have logged exports worth Rs 4.21 lakh crore during the financial year 2019-20. According to Omkar Rai, Director General of STPI, the exports rose to Rs 4,21,103 crore in 2019-20 from Rs 52 crores in 1992-93.

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"In the last three decades, the determined efforts of STPI in promoting IT industry and boosting software exports essentially reflect STPI's commitment towards economic progress of the nation, and team STPI will unswervingly continue to fulfil the aspirations of the 'New India' in times to come," said Rai.

In a recent event he also said that STPI has embarked on setting up over 21 domain-centric Centres of Excellence (CoEs) in collaborative manner across India.

STPI, an autonomous society under the Ministry of Electronics and Information Technology (MeitY), observed its 29th Foundation Day on Friday.

An STPI statement said that the $191 billion IT industry, comprising around over 18,000 firms that directly employ 43.6 lakh strong workforce, that contributes 8 per cent of GDP is a testimony to the STPI's resolute performance in transforming Indian IT industry into a global outsourcing destination for software exports.