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India can beat China in service sector, India is ahead in telecom, computer and IT service exports

According to statistics, China's service sector exports stood at $ 233 billion in 2018. India's total exports to the service sector stood at $ 205 billion during this period.

10th July, 2020

India can beat China in service sector exports. The main reason for this is that the difference in service sector exports of the two countries is small whereas the difference between the two countries in the export of goods is quite large. In the telecom, computer and IT related services sector, India's exports to the world market are more than China.

According to statistics, China's service sector exports stood at $ 233 billion in 2018. India's total exports to the service sector stood at $ 205 billion during this period. That is, India's service sector exports are equivalent to about 90 percent of China's exports. India is ahead of China in exports of telecom, computer and IT related to the service sector. However, China is fast approaching India in these areas.

In 2018, India exported $ 58 billion in the telecom, computer and IT sectors, while China exported around $ 49 billion in these sectors during this period. In the year 2017, India exported $ 54 billion in the telecom, computer and IT sectors and China had exports of $ 30 billion in these sectors.

According to experts, the government should formulate a special policy like manufacturing to encourage India's service sector exports. If not, the difference between China and India in the export of service sector in the next ten years can be like the export of goods. While China exports goods worth $ 2500 billion annually, India's exports are around $ 310, which is not even 15 percent of China's exports of goods.

Category: Business

Tags:
business
India Telecom
China
service sector India
computer and IT service exports
indian telecom service

Reported by:
Pankaj Prasad