Exporting services

India should sustain the momentum

One of the shining spots in the Indian economy over the past few decades has been the momentum in services exports. It has not only helped contain the trade gap but has also been a source of job creation in the economy, including high-skilled jobs. Given India’s success in the services sector, it is worth examining where it stands in the global pecking order and the prospects for the future. A research article in the latest monthly bulletin of the Reserve Bank of India (RBI) notes that India’s services exports in dollar terms have grown at a compound annual growth