India's services exports set to exceed goods by FY30, report shows

India's services exports are projected to reach $618.21 billion by FY30, surpassing merchandise exports at $613.04 billion, according to the Global Trade Research Initiative (GTRI). This growth is driven by IT and other business services. The report highlights the need for India to diversify its IT exports beyond the US and regulate the influence of American tech companies. It emphasizes tapping into high-growth sectors like transport and travel to maintain this growth trajectory. In FY24, services exports were dominated by software and other business services, which made up 86.4% of the total. GTRI calls for improved data transparency to support effective policy-making and sustain growth in India's services sector.