Team siliconindia

• India's services exports growing faster than goods, with 14.8% CAGR over 30 years
• Global Capability Centres (GCCs) expected to touch 2,200 by FY30
• Structural reforms and digital innovation driving global competitiveness

India is rapidly positioning itself as a global leader in services exports, outpacing traditional goods exports with a strong compound annual growth rate (CAGR) of 14.8% over the past three decades, compared to 9.8% for goods, according to a recent analysis by the National Stock Exchange (NSE).

Tirthankar Patnaik,NSE’s Chief Economist, said, “India will be to services what China has been to manufacturing”. The country currently holds a 4.3% global share in services exports and ranks 7th worldwide, led by IT, telecom, and business services, together contributing nearly 75% of total services exports. Technology exports alone crossed USD 200 billion in FY25.

India is also becoming a key base for Global Capability Centres (GCCs), with the number rising from 1,430 in FY19 to 1,700 in FY24. The GCC ecosystem is projected to employ 2.6 million people and reach a market size of USD 100 billion by FY30.

Also Read: Bajaj Electricals & IIT Bombay Partner for Smart City Lighting

This growth is supported by major structural reforms like GST, the Insolvency and Bankruptcy Code, and corporate tax cuts. Investor confidence has also been boosted by initiatives such as faceless tax assessments, simplified labour laws, and globalisation of platforms like UPI.

With a young workforce, strong capital markets, and rising digital inclusion, India is on track to become a USD 5-trillion economy and the world’s third-largest by 2027.