Service exports growth in India is lower than global average: Data

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

On Wednesday, commerce minister Piyush Goyal announced that India’s service exports had crossed the $250-billion mark in 2021-22, registering a 20 per cent growth over the last year. While the government had set a $240 billion target for service exports, the final quarter push ensured that service exports surged to $249.24 billion. 

A Business Standard analysis of monthly exports shows that average exports until December were a tad less than $20 billion per month. Average monthly service exports were $23.5 billion in the last three months. 

Even though exports have grown 20 per cent, imports grew faster at 23.2 per