Digital transformation globally is a tremendous opportunity for India, says expert

The new buzz word in India's growth story is services exports. While India's goods exports clocked just 7.5 percent growth in the April-February period, and actually declined 9 percent if you count only February. India's services exports have shot up 30 percent in the April-February period and a whopping 37 percent in February alone.

Professor Richard Baldwin, who has written a paper for the World Bank, points out that globally, goods trade peaked in 2008 and is falling; but global services trade as a percentage of world GDP has climbed from 12 percent in 2010 to 20 percent in 2020.
Another point to note is that India's services exports is not entirely a software story. In fact in April-December 2022 software exports grew by only 21 percent but business services exports grew by 38 percent.
 
Among the people who are contributing in a big way to these services exports are the big four - EY, Deloitte, KPMG and PwC.
Rajiv Memani, CEO of EY India, believes that digital transformation is a tremendous opportunity for India.
 
 
Read the full article here https://www.cnbctv18.com/economy/digital-transformation-globally-is-a-tremendous-opportunity-for-india-says-expert-16341101.htm

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