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India’s services exports hit record $254.4 billion in FY22
Services Export
Image Credit: Pixabay

India’s services exports hit record $254.4 billion in FY22

| @indiablooms | 05 May 2022, 01:33 am

New Delhi: India’s Services exports set a new record of $254.4 billion in the financial year 2021-2022, the Ministry of Commerce & Industry said Wednesday.

The new record achieved in 2021-22 beats the previous high of $213.2 billion in 2019-20. Also, services exports hit an all-time monthly high of $ 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). 

India’s overall exports (i.e. services and merchandise) touched $676.2 billion in financial year 2021-2022 as both services and merchandise hit record high exports in the financial year 2021-2022. 

India’s overall exports were $526.6 Billion and $497.9 billion in 2019-20 and 2020-21 respectively.

India’s merchandise exports had crossed the $400 billion milestone in the financial year 2021-2022 and stood at $421.8 billion which is a jump of 44.6 percent and 34.6 percent over 2020-21 and 2019-20 respectively.

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