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Business activity in India’s services sector softened in April but remained near its highest level in just under 14 years. However, some signs of weakness are emerging amid concerns that interest rates will stay higher for longer. ....
India Business News: NEW DELHI: India’s share in global services exports has more than doubled over the last 18 years and rise of global capability centres (GCCs) has play. ....
India s services exports have more than doubled in the past 18 years, driven by the surge in Global Capability Centres (GCCs), according to a Goldman Sachs report. Bengaluru leads in GCC concentration, followed by Delhi-NCR. The count of GCCs has risen from 700 to 1,580, employing 1.3 million individuals. Revenues of GCCs reached $46 billion in FY23, with forecasts indicating continued growth, shaping India s global services dominance. ....
The turbulent year is an indication of the geopolitical tensions happening globally. The Israel-Hamas war, followed by the Houthi attacks on the Red Sea, has caused a massive crisis for exporters all over the world. ....
Electronics Export: In 2023, sectors which are expected to register growth include, aviation turbine fuels, motor gasoline, smartphones, basmati rice, motor car-medium size, turbo-jets, and auto components. Smartphone exports are expected to jump by about 93 per cent to USD 14 billion during the current calendar year as against USD 7.2 billion in 2022. ....