Move over IT

Other business services emerge as India's new export star, which could outpace software and information technology with strategic support

Other business services (OBS) could become India’s next major export powerhouse by 2030, surpassing the software and information technology (IT) services sector. It is the new star quietly emerging on India’s services exports scene.

OBS encompasses services that support diverse business operations, such as business consultancy, engineering, and research & design (R&D). They also cover advertising, public relations, market research, logistics, accounting, auditing, architectural and legal services, and many others.

In financial year (FY) 2022-23, India exported software and IT services worth $150 billion (20 per cent of the global share) and OBS worth $80 billion (4.2 per cent