India’s Services exports set new record of USD 254.4B in FY 2021-2022

May 04: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 to Services exports during April-December 2021 (latest available). Component-wise Services trade is given in the table below.

India’s overall exports (i.e. Services and Merchandise) touched USD 676.2 Billion in the financial year 2021-2022 as both Services and Merchandise hit record high exports the 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 the USD 400 Billion milestones 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.

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