India's services exports growth highlights limits of manufacturing push

EconomyIT moves services near No. 1 spot as merchandise exports stall despite supportWhile India's services exports have grown at a compound annual rate of 9.3% over the past 12 years, goods exports have increased at barely a third of that pace. (Source photos by Reuters) © ReutersANANTA AGARWALJuly 16, 2026 11:06 JSTBENGALURU -- India's services exports are on the cusp of overtaking merchandise exports for the first time, underscoring how the country is increasingly dependent on information technology for growth even as policymakers push to transform the nation into a manufacturing powerhouse.