India was the eighth-largest services exporter and the tenth-largest services importer in 2018, a latest update from the World Trade Organization (WTO) stated. Rapid export growth in other business services for three consecutive years (around 9 per cent) and in telecommunications, computer and information services (7 per cent in 2018) boosted the country's performance.
India was the second-largest exporter of ICT exports in 2018. India also entered the top ten global automotive exporters overtaking Brazil. In services exports, India moved into ninth positions, overtaking Italy in the last ten years. India's exports have doubled since 2008.
India rose six places in the world import ranking, moving up to tenth position. Strong domestic demand and high oil prices contributed mostly to this, with increases in imports of fuels and mining products, precious stones and electrical machinery being the main factors.
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