IT moves services near No. 1 spot as merchandise exports stall despite support
While India’s services exports have grown at a compound annual rate of 9.3% over the past 12 years, goods exports have increased at barely a third of that pace. (Source photos by Reuters) © Reuters
BENGALURU — India’s services exports are on the cusp of overtaking merchandise exports for the first time, underscoring how the country is increasingly dependent on information technology for growth even as policymakers push to transform the nation into a manufacturing powerhouse.