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Services Export at an All Time High

Published on May 05, 2022
Current Context: The services Export has reached 254.4 bn USD, this fiscal.
Services Export at an All Time High
  • India's Services sector export grew by 23.4%, in 2021-22 to touch above 250 bn USD mark despite the pandemic causing serious restrictions on trade. With this, India's total export including merchandise has reached 676.2 bn USD.
  • This is a result of India's forward-looking trade policy and subsequent FTAs, PTAs, CEPA, etc with the countries. India's approach to UAE and Australia through the FTA window reaped many opportunities for her.
  • Today, UAE has surpassed China to become India's 2nd largest trade partner. India's services export is expected to touch the 1 trillion USD mark.

Question:

Q.1 How much growth has the Services sector registered over the past year i.e 2020-21?
a. 20%
b. 22.2%
c. 25%
d. 23.4%
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