India's services exports to buck recession fears; see 25-30% growth

Even as merchandise export growth fell to single digits in three months, services exports continued to remain robust and witnessed 25-30 per cent growth since the beginning of the current fiscal year (July-September), reveals official government data.

Notwithstanding the threat of a recession looming ahead for the developed economies, exporters say they expect a similar trend to continue in the second half of the year.

Growth will be driven by sectors such as information technology (IT), accounting, engineering services, as India will have the advantage of low-cost services from skilled professionals it offers.

“Recession in the developed economies will only