Markets

Services exports may cross $240 bn in 2021-22, says SEPC

Seeking incentives from the government, SEPC on Tuesday said the country’s services exports are expected to reach over $240 billion during 2021-22 on account of healthy performance by segments such as professional and management consulting services, audio- visual, freight-transport services, and telecommunications.

Services Export Promotion Council (SEPC) chairman Maneck Davar said during the first five months of the current fiscal year, exports from the sector increased 14% to $95 billion.

“Total services exports for 2021-22 are expected to touch over $240 billion and may increase even further when the tourism sector is opened up later in the year,” Mr. Davar said.

In 2020-21, services exports dipped by 3% to $206 billion. He added that the recovery of services is largely based on the performance of sectors such as professional and management consulting services.

He also said the target of $1 trillion in services exports by 2030 set by the government is feasible but there is a need to look at sectors other than IT and ITeS for growth. The need of the hour is to provide a level-playing field with manufacturing and incentives to tide over the pandemic.


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Printable version | Dec 2, 2021 9:18:44 PM | https://www.thehindu.com/business/markets/services-exports-may-cross-240-bn-in-2021-22-says-sepc/article37078366.ece

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