India's Services Exports

The country's overall goods and services exports are expected to reach USD 1 trillion during 2025-26, according to apex exporters' body FIEO. In 2024-25, the exports were aggregated at USD 825 billion. Federation of Indian Export Organisations (FIEO) President S C Ralhan said merchandise exports will increase from USD 437 billion to USD 525-535 billion in 2025-26. He said that services exports may rise from USD 387 billion to USD 465-475 billion this fiscal. The main sectors which can help push the exports include electrical and electronics (USD 60 billion), machinery (USD 40 billion), chemicals (USD 40 billion), pharmaceuticals (USD 30 billion), petroleum (USD 70 billion), apparel and madeups (USD 23-25 billion), gems and jewellery (USD 30-35 billion) and agriculture (USD 55 billion).

Favourable market conditions and buoyant demand pushed the new business sub-index to a three-month high, the third-highest in around 14 years

Report says services exports could reach around 11% of GDP by 2030, helping increase demand for top-tier discretionary spending

Software exports from Tamil Nadu have reached an all-time high of USD 4.8 billion surpassing all other states in the country as of October 31, 2023, State Minister T R B Rajaa said on Wednesday. The Minister for Industries said the software exports from the state could hit USD 8 billion this financial year, marking a 'significant leap' from last year's USD 5.37 billion. "Exciting news ahead as we get ready for Tamil Nadu Global Investors Meet 2024. State-wise data on Electronic Exports from India till October 2023 are in, and the story of Tamil Nadu's success is truly remarkable yet again," he said on Wednesday. Tamil Nadu leads in electronic exports with USD 4.78 billion as of October 31, 2023, followed by Uttar Pradesh at USD 2.58 billion. Karnataka ranked third at USD 2.29 billion, the data shared by Rajaa showed. "The state's strategic policies, skilled workforce, robust infrastructure and of course the Dravidian Model of governance have propelled its exports to new heights," h

Data released by the government last month showed services exports in October were $28.70 billion, while imports were $14.32 billion

The RBI's numbers are provisional, but further updated, and final figures are usually published quarterly as part of the country's overall balance-of-payments data

The trade deficit narrowed to $20.67 billion in July from $25.45 billion a year ago but widened from $18.76 billion in June

The US announcement to introduce in-country renewable of H-1B visas will help swift movement of Indian IT professionals and promote services exports, SEPC said on Wednesday. Services Export Promotion Council (SEPC) said that the decision would allow easier on-site client engagement by domestic IT professionals. "When Indian IT professionals can quickly travel to client locations abroad, they can better understand client requirements, build stronger relationships, and deliver tailored solutions. This direct engagement can lead to increased client satisfaction, repeat business, and ultimately, higher IT exports," SEPC Chairman Sunil H Talati said. He said that as the US is the major market for India's IT exports, this development will have a significant positive impact on the export of IT services from India. "The earlier estimates for IT exports growth have been in the range of 8-12 per cent however with this particular push the exports growth in IT can further stride in the range o

Net services receipts increased, sequentially and on a year-on-year (y-o-y) basis, on the back of a rise in net earnings from computer services, the RBI said

Buoyed by a significant jump in exports during 2022-23, Services Export Promotion Council (SEPC) on Wednesday said the healthy growth trend will continue and shipments are expected to reach up to USD 400 billion this fiscal. During 2022-23, the country's services exports rose by 42 per cent to USD 322.72 billion from USD 254 billion in 2021-22, according to provisional data from the commerce ministry. "The services sector had targeted USD 300 billion but accomplished USD 322 billion. Subject to the final data we might touch USD 350 billion in 2022-23 and based on the current trend and the continuing growth our estimate is around USD 375 billion to USD 400 billion for 2023-24," SEPC Chairman Sunil H Talati told PTI. Sectors that contributed to the services exports growth during the last fiscal include travel, transport, medical, and hospitality, he said. He added that the council has been working tirelessly in collaboration with the government to catapult services sector growth with

Last month, the Centre unveiled its new foreign trade policy (FTP 2023) setting a target of achieving $2 trillion in exports by 2030

India's goods and services exports are growing at a healthy rate and are expected to be around USD 1 trillion each by 2030, Commerce and Industry Minister Piyush Goyal said on Tuesday. The country's merchandise and services exports touched an all-time high of USD 422 billion and USD 254 billion, respectively, in 2021-22. "My own estimates seem to suggest that we will converge (goods and services exports) by 2030...seven years from now at about USD 1 trillion of goods and USD 1 trillion of services (exports). "That is the trajectory I can see which will mean merchandise doing 8- 9.5 per cent and services doing anywhere between 16-17 per cent, Goyal said here at an event. The services sector, driven by the IT industry, has created a potential not only in terms of jobs, giving value to talent, but also providing India with an opportunity to showcase to the world its strengths, he added. He also said that every country wants to invest in India because of its startup ecosystem. "The w

Bangladesh's service exports grew faster; Asia's growth averaged 16.9% compared to India's 16.6% growth in service exports

However, this is provisional data and the figure may increase once the final data is released, he added

The services exports (receipts) in September 2019 stood at $17.54 billion

The exports stood at 17.73 billion in February.

Cumulatively, the services exports during the April- October period of the 2017-18 fiscal reached $94.48 billion