Exports are the lifeblood of any country. Every time we export stuff we get paid in foreign currencies. Mostly dollars. More dollars help us beef up our currency reserves and help us to pay for all the imports as well. Exports can primarily be clubbed into two categories. We can export goods or merchandise which includes things like textiles, jewelry and processed petroleum products. And then we can also export our services such as software or information technology as well. From April to Feb of this financial year this segment has been growing by a whopping 30%. For the first time ever we might have breached the 300 billion dollar export figure this financial year.
In today’s episode for 11th April 2023, we look at what could be India’s buzzword for 2023 — services exports.