Advantage India
Robust
Demand
* India is the export hub for software services.
*India‘s Domestic IT Services market grows by 8.1% in 2022. which is further expected to grow at a CAGR of 8.0% between 2022-2027 and reach US$ 20.42 billion by the end of 2027.
*India's software service industry is expected to reach Rs. 86,63,000 crore (US$ 1 trillion) by 2030.
*Services exports stood at approximately Rs. 29,34,880 crore (US$ 340 billion) in FY24, with IT and IT-enabled services (ITES) contributing nearly Rs. 17,26,400 crore (US$ 200 billion). In FY25, services exports are expected to reach Rs. 32,80,160-33,23,320 crore (US$ 380-385 billion), reinforcing India's global standing.
Competitive
Advantage
* India has climbed to the 39th position out of 133 economies in the Global Innovation Index (GII) 2024, according to the World Intellectual Property Organization (WIPO).
*The Confederation of Indian Industry (CII) has unveiled a plan to position India as a global logistics hub, calling for a collaborative effort among stakeholders to unlock opportunities across industries and regions. The initiative aims to create aspirational career paths, facilitate professional growth, and develop leadership opportunities.
Policy
Support
*The Ministry of Health and Family Welfare (MoHFW) is leveraging artificial intelligence (AI) to enhance public health services across India focusing on developing and adopting AI-driven healthcare solutions.
*The Indian government, dedicated nine tourism infrastructure projects worth Rs. 469 crores (US$ 56 million). These projects, were developed under the Swadesh Darshan and PRASHAD schemes.
*Government is planning to setup over 100 branches of India Post Payment Bank in the Northeast region to enhance banking services.
Increasing
Investments
*The Indian services sector was the largest recipient of FDI inflows worth Rs. 7,47,413 crore (US$ 1,16,723 million) between April 2000-December 2024.
*100% FDI is allowed for any regulated financial sector activity under the automatic route.
*According to experts, India is expected to receive over Rs. 52,32,600 crore (US$ 600 billion) in alternative investments over the next three years, significantly boosting the startup ecosystem.
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