Business News | India's Services Exports Rise to Record $254.4 Billion in 2021-22

New Delhi [India], May 4 (ANI): India's services exports set a new record of $254.4 billion in the financial year ended March 2022. The new record achieved in 2021-22 beats the previous high of $213.2 billion achieved in 2019-20, the Ministry of Commerce and Industry said on Wednesday.

Services exports hit an all-time monthly high of $26.9 billion in March 2022.

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Telecommunications, computer, and information services, other business services and transport are the top contributors to services exports during April-December period of 2021-22, the Ministry of Commerce and Industry said in a statement.

India's overall exports (i.e. Services and Merchandise) touched $676.2 billion in the financial year 2021-2022 as both services and merchandise hit record high exports in the financial year 2021-2022. India's overall exports were $526.6 billion and $497.9 billion in 2019-20 and 2020-21 respectively.

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India's merchandise exports had crossed $400 billion milestone in the financial year 2021-2022 and stood at $421.8 billion which is a phenomenal increase of 44.6 per cent and 34.6 per cent over 2020-21 and 2019-20 respectively, the ministry said. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)