Services exports may reach $325 billion in fiscal year 2023: SEPC
- IBEF
- February 21, 2022
According to SEPC Chairman Mr. Sunil H Talati, the country's services export is predicted to reach US$ 325 billion in 2022-23 as a result of rising demand for all types of services and the gradual restoration of regular overseas travel. He predicted that service exports will reach US$ 250 billion by the conclusion of the current fiscal year.
The expected value of services exports for April-January 2021-22 is US$ 209.83 billion, up 25.31% from US$ 167.45 billion in the previous year's period. Despite the pandemic, the services sector has maintained 90-91% of last year's overall export performance, he said, adding that services exports have been growing at a compound annual growth rate (CAGR) of 8-9% for the last 20 years and that the sector is the eighth largest in the world and the second largest in the Asia Pacific region.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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