Information technology in India is an industry consisting of two major components: IT services and business process outsourcing (BPO).The sector has increased its contribution to India's GDP from 1.2% in 1998 to 7.5% in 2012. According to NASSCOM, the sector aggregated revenues of US$160 billion in 2017,with export revenue standing at US$99 billion and domestic revenue at US$48 billion, growing by over 13%. USA accounts for more than 60 per cent of Indian IT exports