According to the RBI data, while services exports grew last financial year, they exhibited a deceleration. From $325 billion in 2022-23, they increased merely to $341 billion in 2023-24.
What has worked for the sector, which has been growing at a healthy rate in recent years, is that services imports have gone down by 2 per cent, decreasing to $178 billion from $182 billion. Several reasons can be given for this slowdown, including the impact of weak demand and high interest rates on software-services purchases by global buyers. While there are certainly reasons to stay optimistic about India's services sector, including the interest in building new-style and higher-end outsourcing centres by large companies - so called global capability centres - the recent trend is nevertheless concerning.
هذه القصة مأخوذة من طبعة May 07, 2024 من Business Standard.
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هذه القصة مأخوذة من طبعة May 07, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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