Ministry of Commerce & Industry
India’s Services exports set a new record of USD 254.4 Billion in FY 2021-2022, beats previous high of USD 213.2 Billion in 2019-20
Services exports hit an all-time monthly high of USD 26.9 Billion in March 2022
Telecommunications, computer, and information services, other business services and Transport top contributors in Services exports
India’s overall exports (i.e. Services and Merchandise) touched USD 676.2 Billion in FY 2021-2022 as both Services and Merchandise hit record high exports
Posted On:
04 MAY 2022 5:05PM by PIB Delhi
India’s Services exports set a new record of USD 254.4 Billion in the financial year 2021-2022. The new record achieved in 2021-22 beats the previous high of USD 213.2 Billion in 2019-20. Also, Services exports hit an all-time monthly high of USD 26.9 Billion in March 2022.
Telecommunications, computer, and information services, other business services and Transport are the top contributors in Services exports during April-December 2021 (latest available). Component-wise Services trade is given in table below.
India’s overall exports (i.e. Services and Merchandise) touched USD 676.2 Billion in financial year 2021-2022 as both Services and Merchandise hit record high exports in financial year 2021-2022. India’s overall exports were USD 526.6 Billion and USD 497.9 Billion in 2019-20 and 2020-21 respectively.
India’s Merchandise exports had crossed USD 400 Billion milestone in Financial Year 2021-2022 and stood at USD 421.8 Billion which is a phenomenal increase of 44.6 percent and 34.6 percent over 2020-21 and 2019-20 respectively.
Component-wise services trade during April-December 2021
Values in USD Million (Data is Provisional)
|
Component
|
Apr-Dec 2021 P
|
|
Credit
|
Debit
|
Net
|
|
Manufacturing services on physical inputs owned by others
|
287
|
42
|
245
|
|
Goods for processing in reporting economy
|
287
|
42
|
245
|
|
Goods for processing abroad
|
|
|
|
|
Maintenance and repair services n.i.e.
|
199
|
939
|
-741
|
|
Transport
|
23264
|
24834
|
-1571
|
|
Sea transport
|
15828
|
18008
|
-2180
|
|
Passenger
|
121
|
687
|
-566
|
|
Freight
|
10756
|
15124
|
-4368
|
|
Other
|
4951
|
2197
|
2754
|
|
Air transport
|
5761
|
6002
|
-240
|
|
Passenger
|
280
|
2220
|
-1940
|
|
Freight
|
4251
|
3526
|
726
|
|
Other
|
1230
|
256
|
974
|
|
Other modes of transport
|
1624
|
469
|
1155
|
|
Passenger
|
3
|
1
|
2
|
|
Freight
|
1621
|
467
|
1153
|
|
Other
|
0
|
0
|
0
|
|
Postal and courier services
|
51
|
356
|
-305
|
|
Sea transport
|
3
|
3
|
0
|
|
Air transport
|
32
|
315
|
-282
|
|
Other modes of transport
|
15
|
38
|
-23
|
|
Passenger
|
404
|
2908
|
-2505
|
|
Freight
|
16628
|
19117
|
-2489
|
|
Others
|
6181
|
2453
|
3728
|
|
Travel
|
6488
|
11139
|
-4651
|
|
Business
|
417
|
3668
|
-3250
|
|
Personal
|
6071
|
7471
|
-1400
|
|
Health-related
|
92
|
17
|
75
|
|
Education-related
|
87
|
2532
|
-2445
|
|
Other
|
5892
|
4922
|
970
|
|
Construction
|
2049
|
2200
|
-150
|
|
Construction abroad
|
820
|
1812
|
-992
|
|
Construction in the reporting economy
|
1229
|
387
|
841
|
|
Insurance and pension services
|
2412
|
1648
|
764
|
|
Direct insurance
|
1624
|
27
|
1598
|
|
Reinsurance
|
725
|
1601
|
-876
|
|
Auxiliary insurance services
|
40
|
13
|
27
|
|
Pension and standardized guarantee services
|
23
|
7
|
17
|
|
Financial services
|
3858
|
4116
|
-258
|
|
Explicitly charged and other financial services
|
3570
|
2230
|
1340
|
|
Financial intermediation services indirectly measured
|
288
|
1886
|
-1598
|
|
Charges for the use of intellectual property n.i.e.
|
632
|
6525
|
-5893
|
|
Telecommunications, computer, and information services
|
91950
|
10480
|
81470
|
|
Telecommunications services
|
2374
|
861
|
1513
|
|
Computer services
|
89307
|
9034
|
80274
|
|
Information services
|
269
|
586
|
-316
|
|
Other business services
|
42131
|
37814
|
4318
|
|
Research and development services
|
4296
|
463
|
3834
|
|
Professional and management consulting services
|
25958
|
8431
|
17527
|
|
Technical, trade-related, and other business services
|
11877
|
28920
|
-17043
|
|
Personal, cultural, and recreational services
|
2194
|
3252
|
-1058
|
|
Audiovisual and related services
|
800
|
705
|
95
|
|
Other personal, cultural, and recreational services
|
1395
|
2547
|
-1153
|
|
Government goods and services n.i.e.
|
643
|
697
|
-55
|
|
Others n.i.e.
|
8546
|
1765
|
6782
|
|
Services
|
184653
|
105450
|
79203
|
Source: RBI
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