Service sector do not have any importance in India’s exports

This statement is not entirely true. While India is primarily known for its exports in the manufacturing and agricultural sectors, the service sector also plays an important role in India’s exports.

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In fact, the service sector has been a rapidly growing sector in India’s economy, and it accounts for a significant portion of India’s GDP. According to data from the Reserve Bank of India, the service sector accounted for around 54% of India’s GDP in 2020-2021.

In terms of exports, the service sector has been steadily growing in importance. In the financial year 2020-2021, the total services exports from India stood at US$ 209.6 billion, accounting for around 43% of India’s total exports. This includes exports of IT and IT-enabled services, professional and business services, travel, tourism, and other services.

Therefore, it would not be accurate to say that the service sector does not have any importance in India’s exports. While manufacturing and agriculture continue to be major export sectors, the service sector is also a significant contributor to India’s export earnings.

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