India rapidly emerging as global services-exports hub, says NSE

According to National Stock Exchange of India (NSE), India’s services exports have grown at a compound annual rate of 14.8 % over the past three decades, outpacing goods-exports growth of 9.8 %. India now ranks 7th globally in services trade, holding about 4.3 % of global share. Telecom, IT and business-services comprise nearly three-quarters of the country’s total services exports. With more than 1,700 Global Capability Centres (GCCs) established and projected to reach 2,200 by 2030, the services ecosystem is becoming a structural growth engine for India’s economy.