Domestic growth of India's computer services to cut 'over-reliance' on exports: UNCTAD
5 years, 4 months ago

Domestic growth of India's computer services to cut 'over-reliance' on exports: UNCTAD

India TV News  

The domestic market for India's computer services sector is forecast to grow faster than its export market lessening its "over-reliance" on foreign countries, according to a report by the UN Conference on Trade and Development. In India, which ranked second globally among the exporters of information communications technologies services, the domestic market for computer services "is forecast to grow faster than their exports, fuelled by the Government's Digital India programme, its burgeoning start-up and venture capital scene, and increased computer use by MSMEs," the UNCTAD's first Digital Economy Report released on Wednesday said. "The computer services industry in India is increasingly catering to the domestic market, leveraging expertise gained from exporting while at the same time reducing an over-reliance on such exports," the report said. India delivered 19 per cent of its computer services exports through its ICT exports going abroad to customers while 81 percent was digitally delivered, according to the report.

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History of this topic

How India’s services sector made history as goods exports floundered
4 days, 13 hours ago

How India’s services sector made history as goods exports floundered

Live Mint  

Preliminary data indicates that India’s services exports exceeded its goods exports for November 2024. At the global level, while India’s goods exports have been one of missed opportunities, services exports have an undertone of opportunity taken, driven by IT and software services. India’s share in global services exports has consistently exceeded its share in global goods exports since at least …

India’s $500 billion electronics goal: A dream too far?
Trending News
1 week ago

India’s $500 billion electronics goal: A dream too far?

Live Mint  

India's cooling consumer electronics market has put a question mark on its lofty aim to achieve annual revenue of $500 billion from electronics manufacturing. India's domestic electronics industry may clock a total revenue of just $145 billion this year, the consensus estimate of three market researchers showed. To reach the promised land of a $500-billion domestic electronics economy, India will …

Artificial intelligence, cybersecurity to create 1 million jobs by 2030: Quess IT Staffing report
1 week, 2 days ago

Artificial intelligence, cybersecurity to create 1 million jobs by 2030: Quess IT Staffing report

Hindustan Times  

Emerging technologies, including artificial intelligence, cybersecurity, cloud computing and data science, as a whole, are projected to generate around 1 million jobs by 2030, news agency PTI reported citing a report by Quess IT Staffing, a tech staffing solutions provider. AI Apart from jobs, these emerging technologies are also expected to contribute over $150 billion to India’s economy by 2030, …

Surfing on wave of premiumisation, appliances industry expects 15 pc growth in 2025
1 week, 2 days ago

Surfing on wave of premiumisation, appliances industry expects 15 pc growth in 2025

Live Mint  

New Delhi, Dec 31 The appliances and consumer electronics industry expects 10-15 per cent growth in 2025 on the back of premiumisation trend, which is driven by rising incomes, changing preferences towards energy-efficient, and connected products with innovative features such as AI and increasing desire for global quality products. "Looking ahead, we expect the appliances industry to grow approximately 12-15 …

India’s Services Exports Hit Historic High In Oct, Find Out Why
1 week, 4 days ago

India’s Services Exports Hit Historic High In Oct, Find Out Why

ABP News  

India’s services exports reached a historic high of $34.31 billion in October, a commerce ministry official revealed. The official further noted that India has made a name for itself as a global leader in digitally delivered services exports, backed by its strong IT sector and skilled workforce, reported PTI. In the last two decades, India grew from $30 billion in …

Ajit Ranade: India needs more sectors to be reliable dollar earners
2 weeks, 3 days ago

Ajit Ranade: India needs more sectors to be reliable dollar earners

Live Mint  

India presently has more than a quarter trillion dollars of essential imports. Domestic production capacity for all these is unlikely to become ‘ atma nirbhar ’ in the near future, even as demand will grow as India chugs at a 7% or 8% growth rate. In a report, Ajay Srivastava, founder of Global Trade Research Initiative, analysed the structural changes …

Services led exports are a mixed blessing for the Indian economy
3 weeks ago

Services led exports are a mixed blessing for the Indian economy

Live Mint  

If every cloud has a silver lining, the glow around India’s data that shows November’s trade deficit at a record high of $37.9 billion is the remarkable performance of service exports. In a scenario where US President-elect Donald Trump has threatened to slap “reciprocal" tariffs on India, this strong showing of service exports and declining reliance on the export of …

DC Edit | Time to focus on service sector
3 weeks, 2 days ago

DC Edit | Time to focus on service sector

Deccan Chronicle  

India’s service exports outstripped merchandise exports for the first time ever in November 2024, according to the commerce ministry’s trade data. After sustained growth beginning from February 2024, service exports stood at $37.6 billion and merchandise exports at $32.1 billion in November 2024. While India is known to export more services than it buys from other countries, the value of …

India: Services Exports to Surpass Merchandise Shipments by 2030
1 month, 2 weeks ago

India: Services Exports to Surpass Merchandise Shipments by 2030

Deccan Chronicle  

Chennai: With a growth rate double that of merchandise exports, services export is set to surpass the former in five years. Between FY2019 and FY2024, India’s merchandise exports grew at a compound annual growth rate of 5.8 per cent, while services exports surged ahead at a robust CAGR of 10.5 per cent. According to GTRI, at this rate, services exports …

India third most improving market in business climate, says IU
1 month, 3 weeks ago

India third most improving market in business climate, says IU

Live Mint  

New Delhi: India is the third most improving country when it comes to the business environment, marked by strides in foreign direct investment policy, foreign trade, exchange controls and the tax regime, The Economist Intelligence Unit said in its 2024 rankings. The research and analysis division of the Economist Group said in its latest ranking of countries by their business …

Digital Infrastructure: The Secret Weapon for India's Economic Ascent
2 months, 2 weeks ago

Digital Infrastructure: The Secret Weapon for India's Economic Ascent

The Hindu  

Finance Minister Nirmala Sitharaman emphasizes the crucial role of digital infrastructure in propelling India's economic growth. She highlights the widespread adoption of digital infrastructure by the Indian people, which has facilitated access to essential services and empowered millions to benefit from various opportunities. The Minister emphasizes the transformative impact of the Digital Public Infrastructure (DPI), which has democratized access to …

‘About $4 bn imports so far under new import system’
4 months ago

‘About $4 bn imports so far under new import system’

The Hindu  

With the deadline to review the ‘import management system’ for laptops and other IT products nearing, the firms which received authorisations have imported products worth more than $4 billion this fiscal, an official said seeking anonymity. They sought permission for IT hardware imports worth almost $10 billion, on the scheme’s first day. The new licence regime is applicable to laptops, …

Strong trade ties boosting India’s export market share: Economic Survey
5 months, 2 weeks ago

Strong trade ties boosting India’s export market share: Economic Survey

Hindustan Times  

India is gaining market share in global exports of merchandise and services, benefiting from its strong trade relations across countries, which raised its share in global goods exports to 1.8% and services to 4.3% in FY24 as compared to an average of 1.7% and 3.3% respectively during FY16-FY20, the economic survey said on Monday. The government took various measures to …

Economic Survey 2023-24: India’s success in exports and reducing Chinese imports
5 months, 2 weeks ago

Economic Survey 2023-24: India’s success in exports and reducing Chinese imports

The Hindu  

The government's steps such as mandatory quality norms and increase in customs duties have significantly helped the domestic toy players to boost exports and reduce dependence on Chinese imports, Economic Survey said on July 22. "India's import bill for toys from China dropped from USD 214 million in FY'13 to USD 41.6 million in FY'24, leading to a decline in …

Niti Aayog: India’s Electronics Output Can Reach $500 Billion by FY30
5 months, 3 weeks ago

Niti Aayog: India’s Electronics Output Can Reach $500 Billion by FY30

Deccan Chronicle  

Chennai: India can increase its electronics production five-fold to touch $500 billion by FY30, with $200 -$225 billion worth exports of both finished goods and components by becoming an integral part of the global value chain through focused policy interventions, finds Niti Aayog. However, the electronics sector has a very high participation in the global value chain with 75 per …

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data
5 months, 3 weeks ago

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data

India TV News  

The government of India on Monday released data on the exports by the nation in the month of June. According to the data, India's merchandise export in June increased by 2.56 per cent to $35.32 billion compared to $34.32 billion in June last year. In May, the country's merchandise exports increased by 9.1 per cent and reached USD 38.13 billion, …

DGFT, Revenue dept working on dedicated hubs to boost e-commerce exports
6 months, 2 weeks ago

DGFT, Revenue dept working on dedicated hubs to boost e-commerce exports

The Hindu  

In a bid to boost India's e-commerce exports, the Directorate General of Foreign Trade is working with the Department of Revenue to establish designated e-commerce hubs across India to streamline the process for online export shipments. We are working with the Department of Revenue to have designated e-commerce hubs so that clearance of goods happens fast," Director General of Foreign …

India's electronics sector loses ₹1.25 lakh crore due to India-China tensions
6 months, 3 weeks ago

India's electronics sector loses ₹1.25 lakh crore due to India-China tensions

Hindustan Times  

Escalating tensions with China are said to have cost Indian electronics manufacturers $15 billion in production losses as well as 100,000 jobs in the past four years, the Economic Times reported. In submissions to various ministries, the electronics manufacturing industry said India has also lost out on a $10 billion export opportunity besides $2 billion in value addition loss, according …

A self-harming stance on digital trade tariffs
8 months ago

A self-harming stance on digital trade tariffs

Hindustan Times  

India was at loggerheads with the developed nations and China at the World Trade Organization’s 13th Ministerial Conference in Abu Dhabi earlier this year. India’s resistance to extending the moratorium on tariffs for digital trade was one point of divergence. At MC-13, India’s posture was at odds with digital trade stalwarts like the US and the European Union member states. …

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030
8 months, 1 week ago

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030

Hindustan Times  

India's services exports are likely climb to $900 billion- about 12.4 percent of its GDP, by 2030- Goldman Sachs said in what it called a "favourable scenario" of the economy. "India has been gaining share in professional consulting globally, which is relatively less concentrated than other sectors, and India has scope of gaining further share with the rise of GCCs," …

Don’t take India’s strong services exports story for granted: Goldman Sachs
8 months, 1 week ago

Don’t take India’s strong services exports story for granted: Goldman Sachs

The Hindu  

April 29, 2024 09:57 pm | Updated 10:08 pm IST - NEW DELHI While India’s services exports had grown sixfold between 2005 and 2023 to about $340 billion and were potentially poised to hit the $800-billion mark in 2030, Goldman Sachs cautioned against complacency citing challenges such as the lack of skilled talent and resource stress in key hubs like …

India’s services export grew faster than global average in 2023: UNCTAD data
8 months, 2 weeks ago

India’s services export grew faster than global average in 2023: UNCTAD data

Hindustan Times  

NEW DELHI: India’s annual services export grew at 11.4% in 2023 against the global average of 8.9% and surpassed China which witnessed a 10.1% contraction in the year, according to the quarterly bulletin released by the United Nations Conference on Trade and Development. Robust services trade helped India to compensate for a 3.11% year-on-year contraction in merchandise exports in FY2024 …

Indian economy projected to grow 6.5% in 2024: UNCTAD
8 months, 3 weeks ago

Indian economy projected to grow 6.5% in 2024: UNCTAD

The Hindu  

India’s economy is projected to grow by 6.5% in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive impact on Indian exports. “The expansion in 2023 was driven by strong public investment outlays as well as the vitality of the services …

Setting the rules in disputes over apps
10 months ago

Setting the rules in disputes over apps

Hindustan Times  

Last week, Google delisted the apps of 10 Indian businesses from its proprietary app store. This incident, which saw some apps relisted after mediated discussions, highlights the need for a thoughtful resolution of business disputes in the digital economy, increasingly contested on the notion of “fairness”. The margins-led fight between apps and their distributors has many analogues, such as telecom …

DPI value addition can grow up to 4.2 pc
10 months, 2 weeks ago

DPI value addition can grow up to 4.2 pc

Deccan Chronicle  

Chennai: Digital Public Infrastructure with entities like Aadhaar, UPI and FASTag contributed 0.9 per cent to the GDP in 2022 and is expected to increase their economic value addition to 2.9 – 4.2 per cent by 2030, said NASSCOM. Apart from the 0.9 per cent economic value add, DPIs also contribute to financial benefits, ecological benefits and process efficiencies and …

India’s PC market declined 6.6% in 2023
10 months, 2 weeks ago

India’s PC market declined 6.6% in 2023

The Hindu  

India’s PC market inclusive of desktops, notebooks, and workstations shipped 13.9 million units in 2023, a decline of 6.6% YoY. The consumer segment witnessed a decline of 3.1% YoY and the commercial segment declined by 9.7% due to reduced demand from enterprises. The decision on import regulations, improving market sentiment, and aggressive push from vendors ensures market recovery in the …

Manufacturing versus services: A false binary
10 months, 2 weeks ago

Manufacturing versus services: A false binary

Hindustan Times  

The debate around India’s policy focus — whether it should be on manufacturing or services — is once again heating up. India’s share of global services exports is currently ~4.4%, and the country is already the largest provider of telecom and information services. The other pillar of the country’s export strategy — services exports — is where India already has …

Digital economy to contribute 20% of India’s GDP by 2026: Union Minister Rajeev Chandrasekhar
1 year, 1 month ago

Digital economy to contribute 20% of India’s GDP by 2026: Union Minister Rajeev Chandrasekhar

India TV News  

Gandhinagar: Union minister Rajeev Chandrasekhar on Thursday said that the digital economy will contribute 20 per cent of India's gross domestic product by 2026. Rajeev Chandrasekhar on digital economy "In 2014, the digital economy was around 4.5 per cent of the GDP and today it is 11 per cent. India has now become fastest-growing digital economy The Union Minister asserted …

India on the cusp of ‘an epochal leap’ in ICT sector, says KPMG report
1 year, 2 months ago

India on the cusp of ‘an epochal leap’ in ICT sector, says KPMG report

The Hindu  

Three technologies, 5G/6G, Satellite Communication and Semiconductors, collectively will add $240 billion to the Indian economy in the next five years and add 1.6% to India’s GDP by FY28, estimates KPMG in a report titled Expanding Tech Horizons: Unlocking India’s Digital Potential released at the India Mobile Congress 2023 on Friday. The report projects an ambitious and positive outlook for …

Indian Govt Now Sets Up New Process To Import Laptops For Companies: All Details
1 year, 2 months ago

Indian Govt Now Sets Up New Process To Import Laptops For Companies: All Details

News 18  

New Delhi, Oct 19: The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply …

India’s move to boost PC manufacturing, and the sluggish shipments speed bump
1 year, 4 months ago

India’s move to boost PC manufacturing, and the sluggish shipments speed bump

Hindustan Times  

There can always, as it should, be a debate about how policies are introduced and implemented. Yet, the very reason behind the government of India’s temporarily delayed move to restrict computing device imports, which would include PCs, laptops and tablets, shouldn’t get obscured. “The policy announcement is designed to boost Make in India, and especially, the PLI Scheme 2.0 for …

India's PC Market Shrinks For Fourth Consecutive Quarter: IDC Report
1 year, 4 months ago

India's PC Market Shrinks For Fourth Consecutive Quarter: IDC Report

News 18  

India’s traditional PC market, including desktops, notebooks, and workstations, faced challenges as it dispatched only 3.2 million units during the second quarter of 2023, according to new report from International Data Corporation. Despite growing by 5.9 per cent quarter-over-quarter, India’s PC market experienced a 15.3 percent decline year-over-year in 2Q23, as indicated by IDC’s Worldwide Quarterly Personal Computing Device Tracker. …

DC Edit | Will Indian tech giants step up?
1 year, 5 months ago

DC Edit | Will Indian tech giants step up?

Deccan Chronicle  

After India boosted its mobile phone manufacturing through a carrot-and-stick policy, involving production-linked sops and import restrictions, the Narendra Modi-led government has announced restrictions on the import of laptops, tablets and some types of computers, citing security reasons. India has imported personal computers, including laptops worth $5.33 billion in 2022-23, as against $7.37 billion in 2021-22, while the overall electronics …

India imposes import curbs on laptops, tablets, PCs to boost local manufacturing
1 year, 5 months ago

India imposes import curbs on laptops, tablets, PCs to boost local manufacturing

Deccan Chronicle  

New Delhi: The government on Thursday imposed import restrictions on laptops, tablets, and certain type of computers with immediate effect, a move that will curtail inbound shipments of these goods from countries like China and boost domestic manufacturing. “Import of laptops, tablets, all-in-one personal computers, and ultra small form factor computers, servers. “Exemption from import licensing requirements is provided for …

Technology will boost the role of MSMEs in India’s export success
1 year, 5 months ago

Technology will boost the role of MSMEs in India’s export success

Live Mint  

During Prime Minister Narendra Modi’s recent visit to the US, technology was centre-stage at several discussions. For example, in alignment with India’s G20 objective of linking micro, small and medium enterprises to global value chains through e-commerce platforms, Amazon announced a goal of $20 billion in cumulative e-commerce exports from India by 2025 and $125 billion by 2030. If India …

Downhill driving: The Hindu Editorial on India’s overall trend of exports
1 year, 5 months ago

Downhill driving: The Hindu Editorial on India’s overall trend of exports

The Hindu  

After hitting a record $775 billion in 2022-23, India’s exports are off to a rocky start this year. While this implies the goods trade deficit may not widen as it had last year, it does not augur well for domestic growth impulses that form India’s key armour against the gathering global slowdown. Frail global demand may not just impact trade …

Government to hire agency to estimate size of digital economy
1 year, 6 months ago

Government to hire agency to estimate size of digital economy

Deccan Chronicle  

New Delhi: The government is planning to hire an agency to measure the actual size of the digital economy which is estimated to be around USD 1 trillion by 2025, according to an official document. "The RFP aims to invite proposal in the area of estimation and measurement of India's digital economy including formulation of measurement framework, capturing data and …

How Much is India’s ‘Digital Economy’ Worth? In a First, Modi Govt to Measure in Next 9 Months
1 year, 6 months ago

How Much is India’s ‘Digital Economy’ Worth? In a First, Modi Govt to Measure in Next 9 Months

News 18  

The Narendra Modi-led central government, for the first time, will measure the size of India’s ‘digital economy’. The government has put prime focus on ‘digitalisation’ but the measurement of the ‘digital economy’ has not been institutionalised in India. According to senior officials, an exercise will be conducted over the next nine months involving “estimation and measurement of India’s digital economy”, …

Internet economy to become 12–13% of GDP by 2030: Report
1 year, 7 months ago

Internet economy to become 12–13% of GDP by 2030: Report

The Hindu  

India’s internet economy — B2C e-commerce firms, online service providers, ed-tech companies, and so on — will hit $1 trillion in value by 2030, up from $175 billion in 2022, a report by Google, Bain & Company and Temasek estimated. The key thrust would come from “Tier 2+ locations,” the report said, emphasising smaller towns and rural areas, where the …

At the root of India’s manufacturing challenge
1 year, 7 months ago

At the root of India’s manufacturing challenge

The Hindu  

The issue of manufacturing or services as the desirable path for India’s economy makes the rounds in public fora periodically. In the early part of this century, when India’s software exports were booming, it had been asked why India’s services sector should not leapfrog over manufacturing to propel the economy forward. Unimpressive record After the economic reforms of 1991, the …

E-commerce surge: India to add 80 million online shoppers by 2025
1 year, 8 months ago

E-commerce surge: India to add 80 million online shoppers by 2025

Live Mint  

New Delhi: India has gained 125 million online shoppers in the past three years, with another 80 million expected to join by 2025, according to a report by marketing data and analytics company Kantar. The increasing online presence is expected to boost e-commerce sales, as 77 million shoppers purchased from social platforms such as Facebook, WhatsApp and social-commerce sites in …

Technology and cloud to build a better India
1 year, 9 months ago

Technology and cloud to build a better India

Live Mint  

In today’s world, the growing volume of data is driving advances in technologies, such as cloud computing, combined with artificial intelligence and machine learning. A new India—one of the world’s largest technology hubs India is the world’s third largest startup ecosystem, and is fast becoming the SaaS factory for the world. Cloud is now a must for India’s businesses and …

Budget 2023-24 Expectation: It is time government focused on the hardware sector
1 year, 11 months ago

Budget 2023-24 Expectation: It is time government focused on the hardware sector

Firstpost  

India’s IT sector has produced a large amount of foreign export revenue for India and has also gained an awe-inspiring reputation across all industries by creating a large number of job opportunities. In the same vein, the Indian IT service sector might have started producing mobile phones within the country but I think the time has come for India to …

India will be big export economy; to benefit from open and connected internet: Pichai
2 years ago

India will be big export economy; to benefit from open and connected internet: Pichai

Deccan Chronicle  

NEW DELHI: India will be a big export economy and it needs to create a balance between safeguarding citizens and enabling companies to innovate with its framework, Google CEO Sundar Pichai said on Monday. While speaking at Google for India event, Pichai said that the company is focussing on startups from India and out of its USD 300 million for …

Destination India: Services Sector Is The Next Big Opportunity To Achieve $5-Trillion Economy
2 years, 2 months ago

Destination India: Services Sector Is The Next Big Opportunity To Achieve $5-Trillion Economy

ABP News  

India has made tremendous progress over a period of time. From being a predominantly agrarian economy, India has transformed into a services sector-oriented economy that contributes over 50 per cent to the GDP. Around 697,453 foreign tourists came for medical treatment to India in 2019, making up 6.4 per cent of the total foreign tourist arrivals in India. During 2010-2019, …

India will come out of current global turmoil, move on path of sustained growth: FM
2 years, 2 months ago

India will come out of current global turmoil, move on path of sustained growth: FM

Deccan Chronicle  

WASHINGTON: Finance Minister Nirmala Sitharaman has exuded confidence that India will come out of the current global turmoil and move on the path of sustained recovery on the back of rapid digitisation and steps taken by the government. She said India has been able to set up a global benchmark in digitisation in areas of payment, healthcare, education and regulatory …

57% of IT Professionals Would not Consider Returning to IT Services Sector: Survey
2 years, 3 months ago

57% of IT Professionals Would not Consider Returning to IT Services Sector: Survey

News 18  

As many as 57 per cent of IT professionals claim that they would not consider returning to the IT services sector in the future in a recent survey ‘Talent Exodus Report’ released by tech staffing firm, TeamLease Digital. The survey reveals that employees’ preference has changed from salary to flexibility, career growth, and value proposition. Read | In World of …

India has a unique role to play in global economy: Walmart
2 years, 3 months ago

India has a unique role to play in global economy: Walmart

The Hindu  

India, with its deep pool of talent, proven ability to leapfrog existing digital technologies and extensive manufacturing expertise, has a unique role to play in the global economy, said Judith McKenna, President and CEO of Walmart International. “We’re building on what we’ve learned here in India, creating opportunities and access for customers and businesses that they never had before,’‘ she …

India@75: IT sector’s historic rise since Independence to become a global powerhouse
2 years, 3 months ago

India@75: IT sector’s historic rise since Independence to become a global powerhouse

Firstpost  

Considering its fast growth pace, India is at the centre of global IT attraction with players betting big on the future of IT in India Technology has changed the way we communicate, pay bills, commute, interact with governance, and even the way we perceive entertainment. Our government’s flagship initiative, Digital India, has aided in spreading internet access in the remotest …

India's data centre industry worth USD 5.6 bn; set to grow further: Report
2 years, 4 months ago

India's data centre industry worth USD 5.6 bn; set to grow further: Report

India TV News  

India data centre industry: India's data centre industry size is worth USD 5.6 billion and is set to grow as over 45 data centres are expected to come up by 2025, according to Anarock and Binswanger report. As per the latest Anarock and Binswanger report 'Under the Lens: India's Data Centre Explosion', over 45 data centres spanning about 13 million …

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