Growth of Services Sector in India - Infographic

India is among the top 10 service exporter countries in 2020 having a 4.1% share in world commercial service exports.

Advantage India

Robust
Demand

* India is the export hub for software services. The Indian IT outsourcing service market is expected to witness 6–8% growth between 2021 and 2024.

* India‘s IT and business services market is projected to reach US$ 19.93 billion by 2025.

Competitive
Advantage

* In September 2021, India moved up two spots to 46 in the Global Innovation Index (GII) 2021, due to successful advancements in services that are technologically dynamic and can be traded internationally.

Policy
support

* Government is promoting necessary services and will charge zero tax for education and health services under the GST regime.

* In October 2021, the government announced a new helicopter policy to build dedicated hubs and corridors, the policy will boost helicopter services in the country.

Increasing
Investments

*The Indian services sector was the largest recipient of FDI inflows worth US$ 96.76 billion between April 2000-June 2022.

*According to the IVCA-EY monthly PE/VC roundup, October 2022 recorded investments worth US$ 3.3 billion across 75 deals, including six large deals worth US$ 2.2 billion. Exits were recorded at US$ 1.6 billion across 15 deals in October 2022.

Last updated: Dec, 2022

IBEF Campaigns

MORE
India Organic Biofach 2022

India Organic Biofach 2022

Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nurember...

10th India Trend Fair 2022

10th India Trend Fair 2022

The Tenth Edition of the India Trend Fair, Tokyo, Japan is being organised ...

Case Studies

MORE

Rise of the Indian Aviation Market

Rise of the Indian Aviation Market

India has become the third-largest domestic aviation market in the world and is expected to overtake the UK to become the third-largest air passenger ...

India's Agritech Ecosystem

India's Agritech Ecosystem

Agriculture plays a crucial role in developing India's economy. According to Census 2011, almost 54.6% of the country's workforce is engaged i...

India’s Plastic Industry

India’s Plastic Industry

Due to the enormous potential of the Indian market, local businesses have been encouraged to develop their technical skills, meet high-quality require...

IBEF BLOG

MORE
India’s Services Exports Opportunities and Capabilities
3 Feb 2023

India’s Services Exports Opportunities and Capabilities

Introduction India stood at the 20th position among the top exporters of b...

Export Performance of Engineering Products in India
3 Feb 2023

Export Performance of Engineering Products in India

Introduction During the year 1955, the Indian engineering sector was quite...

Rising India’s Defence Exports: Make in India Effect
27 Jan 2023

Rising India’s Defence Exports: Make in India Effect

Introduction India has become the fifth largest economy, joining the &ldqu...

Partners
Loading...