New Delhi : India’s services exports achieved a historic milestone in October 2024, reaching an unprecedented USD 34.31 billion, marking a 22.3 percent increase from the same month last year, according to commerce ministry officials.
This remarkable growth is attributed to sustained investments in digital infrastructure and supportive policy frameworks that have strengthened India’s position as a global leader in digitally delivered services.
The country’s digital service exports have demonstrated extraordinary growth over the past two decades, escalating from USD 30 billion in 2005 to a substantial USD 257 billion in 2023.
The sector experienced particularly robust growth between 2010 and 2014, when exports quadrupled from USD 20 billion to USD 80 billion, maintaining steady growth to reach USD 191 billion by 2019 before the pandemic.
The COVID-19 pandemic, rather than hindering progress, served as a catalyst for the sector’s expansion, with exports nearly doubling from pre-pandemic levels by 2023.
This growth trajectory reflects the remarkable resilience and adaptability of India’s digital services industry, supported by the country’s large pool of skilled IT professionals, competitive pricing, and favorable business environment.
Key factors driving this growth include extensive investments in digital infrastructure such as data centers and high-speed internet connectivity, along with government initiatives like Digital India that have created an enabling environment for IT services.
Strategic partnerships with international firms have also played a crucial role in expanding market access for Indian IT companies.
Looking ahead, India’s leadership position in the global digital economy is expected to strengthen further, driven by technological advancements and increasing worldwide demand for digital transformation services. The continuous growth in services traded through computer networks, including internet platforms, apps, emails, and digital intermediation services, underscores India’s growing influence in the global digital services landscape
