![\"azadi](\"https:\/\/static.pib.gov.in\/WriteReadData\/specificdocs\/photo\/2021\/aug\/ph202183101.png\")
<\/div>\n<\/div>\n India\u2019s IT sector to play a key role in achieving ambitious $450 billion services export target: Shri Piyush Goyal
MSMEs driving rapid growth in IT and services exports<\/span> <\/h2>\n<\/p>\n Posted On: 20 MAR 2025 9:02PM by PIB Delhi <\/p>\n
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Union Minister of Commerce & Industry, Shri Piyush Goyal called for a collective commitment from the government and the IT sector to achieve a $450 billion services export target. Recognizing the rapid growth of MSMEs in IT, tourism, business accounting, and financial services, Shri Goyal emphasized the sector\u2019s high job creation potential. He expressed confidence at the inaugural session of NASSCOM Global Confluence 2025 in New Delhi today that in 2025-26, India\u2019s services exports could surpass merchandise exports, with IT at the forefront. He called for a collective commitment from the government and the IT sector to achieve a $450 billion services export target.<\/span><\/span><\/p>\nShri Goyal underscored the critical role of the IT and IT-enabled services (ITES) sector in India\u2019s economic growth. He noted that the services sector exports reached approximately $340 billion last year, with IT and ITES contributing nearly $200 billion. This year, services exports are expected to reach between $380 billion and $385 billion, further solidifying India\u2019s global presence.<\/span><\/span><\/p>\nShri Goyal highlighted the importance of innovation and adaptability in maintaining India’s competitive edge. He praised NASSCOM (National Association of Software and Services Companies) for fostering a culture of continuous learning, stating that the IT sector has consistently remained ahead of the curve by embracing new technologies such as quantum computing, artificial intelligence, and machine learning.<\/span><\/span><\/p>\nHe also stressed the need to attract Global Capability Centers (GCCs) to India, leveraging the country\u2019s vast talent pool. Encouraging businesses to operate from India rather than relocating talent abroad, he said this would enhance foreign exchange earnings and fuel domestic economic growth.<\/span><\/span><\/p>\nDiscussing India\u2019s expanding middle class and rising consumption levels, Shri Goyal outlined the cascading benefits of IT-led growth, including increased demand for commercial real estate, housing, and infrastructure. He called it a \u201cvirtuous cycle of growth\u201d where a thriving services sector strengthens the overall economy.<\/span><\/span><\/p>\nNASSCOM, he noted, plays an omnipresent role across industries and must continue reskilling and retraining IT professionals to remain relevant in today\u2019s fast-evolving landscape. He reiterated the government\u2019s commitment to expanding global partnerships through Free Trade Agreements (FTAs) and bilateral engagements, emphasizing that numerous global markets are eager for India\u2019s arrival.<\/span><\/span><\/p>\nThe Minister concluded by reaffirming confidence in India\u2019s IT sector and MSMEs as key drivers of the country\u2019s economic transformation in the Amrit Kaal, working collectively towards a developed and prosperous Viksit Bharat.<\/span><\/span><\/p>\nCongratulating the winners of the SME Inspired 2025 Awards, he lauded their achievements and encouraged others to strive for excellence in the coming years.<\/span><\/span><\/p>\n***<\/span><\/span><\/p>\nAbhishek Dayal\/ Abhijith Narayanan\/ Ishita Biswas<\/span><\/span><\/strong><\/p>\n(Release ID: 2113462)<\/span> Visitor Counter : 103<\/span>
<\/span> <\/p>\n","protected":false},"excerpt":{"rendered":"Ministry of Commerce & Industry India\u2019s IT sector to play a key role in achieving ambitious $450 billion services export target: Shri Piyush GoyalMSMEs driving rapid growth in IT and services exports Posted On: 20 MAR 2025 9:02PM by PIB Delhi Union Minister of Commerce & Industry, Shri Piyush Goyal called for a collective commitment […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-352423","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-others"},"_links":{"self":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/352423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/comments?post=352423"}],"version-history":[{"count":0,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/352423\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/media?parent=352423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/categories?post=352423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/tags?post=352423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Shri Goyal underscored the critical role of the IT and IT-enabled services (ITES) sector in India\u2019s economic growth. He noted that the services sector exports reached approximately $340 billion last year, with IT and ITES contributing nearly $200 billion. This year, services exports are expected to reach between $380 billion and $385 billion, further solidifying India\u2019s global presence.<\/span><\/span><\/p>\n Shri Goyal highlighted the importance of innovation and adaptability in maintaining India’s competitive edge. He praised NASSCOM (National Association of Software and Services Companies) for fostering a culture of continuous learning, stating that the IT sector has consistently remained ahead of the curve by embracing new technologies such as quantum computing, artificial intelligence, and machine learning.<\/span><\/span><\/p>\n He also stressed the need to attract Global Capability Centers (GCCs) to India, leveraging the country\u2019s vast talent pool. Encouraging businesses to operate from India rather than relocating talent abroad, he said this would enhance foreign exchange earnings and fuel domestic economic growth.<\/span><\/span><\/p>\n Discussing India\u2019s expanding middle class and rising consumption levels, Shri Goyal outlined the cascading benefits of IT-led growth, including increased demand for commercial real estate, housing, and infrastructure. He called it a \u201cvirtuous cycle of growth\u201d where a thriving services sector strengthens the overall economy.<\/span><\/span><\/p>\n NASSCOM, he noted, plays an omnipresent role across industries and must continue reskilling and retraining IT professionals to remain relevant in today\u2019s fast-evolving landscape. He reiterated the government\u2019s commitment to expanding global partnerships through Free Trade Agreements (FTAs) and bilateral engagements, emphasizing that numerous global markets are eager for India\u2019s arrival.<\/span><\/span><\/p>\n The Minister concluded by reaffirming confidence in India\u2019s IT sector and MSMEs as key drivers of the country\u2019s economic transformation in the Amrit Kaal, working collectively towards a developed and prosperous Viksit Bharat.<\/span><\/span><\/p>\n Congratulating the winners of the SME Inspired 2025 Awards, he lauded their achievements and encouraged others to strive for excellence in the coming years.<\/span><\/span><\/p>\n ***<\/span><\/span><\/p>\n Abhishek Dayal\/ Abhijith Narayanan\/ Ishita Biswas<\/span><\/span><\/strong><\/p>\n (Release ID: 2113462)<\/span> Visitor Counter : 103<\/span> Ministry of Commerce & Industry India\u2019s IT sector to play a key role in achieving ambitious $450 billion services export target: Shri Piyush GoyalMSMEs driving rapid growth in IT and services exports Posted On: 20 MAR 2025 9:02PM by PIB Delhi Union Minister of Commerce & Industry, Shri Piyush Goyal called for a collective commitment […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-352423","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-others"},"_links":{"self":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/352423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/comments?post=352423"}],"version-history":[{"count":0,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/352423\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/media?parent=352423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/categories?post=352423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/tags?post=352423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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