New Delhi : India’s Services exports set a new record of USD 254.4 Billion in the financial year 2021-2022. The new record achieved in 2021-22 beats the previous high of USD 213.2 Billion in 2019-20. Also, Services exports hit an all-time monthly high of USD 26.9 Billion in March 2022.
Telecommunications, computer, and information services, other business services and Transport are the top contributors in Services exports during April-December 2021 (latest available). Component-wise Services trade is given in table below.
India’s overall exports (i.e. Services and Merchandise) touched USD 676.2 Billion in financial year 2021-2022 as both Services and Merchandise hit record high exports in financial year 2021-2022. India’s overall exports were USD 526.6 Billion and USD 497.9 Billion in 2019-20 and 2020-21 respectively.
India’s Merchandise exports had crossed USD 400 Billion milestone in Financial Year 2021-2022 and stood at USD 421.8 Billion which is a phenomenal increase of 44.6 percent and 34.6 percent over 2020-21 and 2019-20 respectively.
Component-wise services trade during April-December 2021
Values in USD Million (Data is Provisional)
|Component||Apr-Dec 2021 P|
|Manufacturing services on physical inputs owned by others||287||42||245|
|Goods for processing in reporting economy||287||42||245|
|Goods for processing abroad|
|Maintenance and repair services n.i.e.||199||939||-741|
|Other modes of transport||1624||469||1155|
|Postal and courier services||51||356||-305|
|Other modes of transport||15||38||-23|
|Construction in the reporting economy||1229||387||841|
|Insurance and pension services||2412||1648||764|
|Auxiliary insurance services||40||13||27|
|Pension and standardized guarantee services||23||7||17|
|Explicitly charged and other financial services||3570||2230||1340|
|Financial intermediation services indirectly measured||288||1886||-1598|
|Charges for the use of intellectual property n.i.e.||632||6525||-5893|
|Telecommunications, computer, and information services||91950||10480||81470|
|Other business services||42131||37814||4318|
|Research and development services||4296||463||3834|
|Professional and management consulting services||25958||8431||17527|
|Technical, trade-related, and other business services||11877||28920||-17043|
|Personal, cultural, and recreational services||2194||3252||-1058|
|Audiovisual and related services||800||705||95|
|Other personal, cultural, and recreational services||1395||2547||-1153|
|Government goods and services n.i.e.||643||697||-55|