To counter widening CAD, govt focuses on computer services, tech export

Monday's meet on boosting exports also called for slashing imports

The steady growth of the largest category of export — computer software — has gripped the attention of policymakers as a way to counter the country’s widening current account deficit (CAD). Currently pegged at $120 billion, exports from the sector have been promised special support by the commerce department with the aim of taking it to $150 billion by 2023-24. The decision was taken at an inter-ministerial meeting on Monday.

“Measure like maintaining supremacy in major markets such as the US, the European Union and the UK as well as creating software rather than servicing tech clients were suggested,” a