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 …
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 …
The country's services exports are doing “extremely well” and going by the current trend these outbound shipments would register about 20% growth in this fiscal and cross the $300 billion target despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. With all these stress, where every global leader is talking of “very” tough times, India's exports rose …
India’s merchandise exports in May jumped 20.55 per cent year-on-year to $38.94 billion, while the imports increased 62.83 per cent year-on-year to $63.22 billion during the month. The country’s overall imports in May 2022 are estimated to be $77.65 billion, exhibiting a positive growth of 59.19 per cent over the same period last year, according to the data. The estimated …
Terming the 'Services' sector as the key driver of India's economic growth, Union Minister Piyush Goyal on Tuesday said that India is poised to achieve the Services Export target of USD 1 trillion by 2030. Goyal while speaking at the ' Export PromServicesotion Council- Global Services Conclave 2021' at the national capital said, "Services sector provides employment to nearly 2.6 …
