ENA Sectors 2025-10-21 18:22:31 <p><span style="font-size:14px"><strong>New Delhi, Oct 21 (KNN)</strong> India is rapidly becoming a global leader in services exports, according to the National Stock Exchange of India (NSE). </span></p> <p><span style="font-size:14px">Over the past three decades, the countrys services sector has grown at a compound annual growth rate (CAGR) of 14.8 %, outpacing goods exports, which grew at 9.8 %.</span></p> <p><span style="font-size:14px">Currently, India accounts for about 4.3 % of global services exports, ranking seventh worldwide. Telecom, IT, and business services form the backbone of this growth, contributing roughly three‑quarters of total service exports. Technology exports alone crossed USD 200 billion in fiscal year 2025.</span></p> <p><span style="font-size:14px">NSE Chief Economist Tirthankar Patnaik compared Indias rise in services to Chinas manufacturing boom, calling the country a global hub for services exports. </span></p> <p><span style="font-size:14px">India is also becoming the worlds largest base for Global Capability Centres (GCCs), with numbers rising from 1,430 in FY19 to 1,700 in FY24 and projected to reach 2,200 by FY30. </span></p> <p><span style="font-size:14px">GCCs are expected to employ around 2.6 million people and increase their economic contribution from USD 40 billion in FY19 to USD 100 billion by FY30.</span></p> <p><span style="font-size:14px">Structural reforms such as GST implementation, the Insolvency and Bankruptcy Code, the Real Estate Regulation Act, and reduced corporate taxes have accelerated this momentum. </span></p> <p><span style="font-size:14px">Simplified labor laws, digital assessments, increased FDI, and the internationalisation of the UPI system have further strengthened investor confidence.</span></p> <p><span style="font-size:14px">On the social front, programs like the Ujjwala scheme, Swachh Bharat mission, and Jan Dhan Yojana have improved millions of lives, supporting Indias broader economic transformation.</span></p> <p><span style="font-size:14px">Looking forward, Indias real GDP growth is projected at 6.3 6.8 % with nominal growth around 12 %. If this pace continues, India could become the worlds third‑largest economy by 2027, surpassing Japan and Germany.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 43838 https://knnindia.co.in/news/newsdetails/sectors/india-emerges-as-a-global-hub-for-services-exports-nse 2025-10-21 18:22:31 knnindia.co.in