Services Exports Help Cushion External Pressure
India's services exports remain an important buffer as goods imports rise.
India's services exports continue to play a stabilising role in the economy.
While merchandise trade is under pressure from oil and gold imports, services such as IT, consulting, finance, outsourcing and digital support help bring in foreign exchange.
This cushion is important because it offsets some of the strain from the goods trade deficit. The next opportunity is to move further up the value chain through AI, cybersecurity, cloud services and global capability centres.
Global capability centres in India have been hiring at a steady pace, even as broader global tech employment remains cautious.
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