India has emerged as the seventh-largest services exporter globally, up from 24th in 2001. Services exports increased from US$ 53 billion in 2005 to US$ 338 billion in 2023, contributing nearly 10% to GDP and helping reduce the Current Account Deficit to USD 23.2 billion in FY 2023-24. Goldman Sachs...
India’s services sector exhibited impressive growth in September, with the S&P Global India Services Purchasing Managers’ Index (PMI) rising to 61 from August’s 60.1. This consistent expansion since August 2021 reflects the sector’s longest growth streak since 2011. Â Driven by surging demand and strong sales, India’s services industry, a...
The Service sector has undergone a notable transformation, embracing digitization and integrating artificial intelligence, revolutionizing its dynamics. Artificial intelligence(AI) is revolutionizing the service sector, reshaping industries, and transforming customer interactions. Now the question arises, how is AI going to change the dynamics of the service industry, and what are the...
After a positive growth performance in 2019, global services trade is expected to be directly hit by the economic fallout of COVID-19. India’s services activity showed unprecedented contraction in April, with only a partial recovery in May. While prospects look weak for most services industries, some sectors like IT/ITeS could...
India Business & Trade is a thought leadership initiative of the Trade Promotion Council of India, a premier trade promotion body recognised by the Department of Commerce, Government of India.
India Business & Trade
M-62, Saket, New Delhi-110064, India
Stay ahead in the dynamic world of trade and commerce with India Business & Trade’s weekly newsletter.
Copyright © 2026 India Business & Trade. All Rights Reserved
