• ABOUT
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS
Sunday, June 1, 2025
  • Login
Economy India
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
No Result
View All Result
Economy India
No Result
View All Result
Home Companies

IT industry can play a key role in raising services exports to $1 trillion year: Piyush Goyal

by Economy India
January 17, 2022
Reading Time: 2 mins read
FEATURED IMAGE ECONOMY INDIA 1 1
0
SHARES
0
VIEWS
Share on FacebookShare on XShare on Linkedin
  • Govt will provide whatever help IT firms need to boost exports.
  • IT industry can become a bigger global player by focusing on new technologies.

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal has assured leaders of India’s top IT companies that the Central government will give full support to the sector to accelerate growth and help India’s Services exports soar to $1 trillion in a decade.

Goyal said India was on track to achieve its merchandise exports target of $400 billion this year, while Services exports were likely to be about $240 billion to $250 billion, which is much lower, but can grow rapidly and catch up with merchandise exports.

“When I look at the trajectory of these – I personally believe this is going to be a race to the top. We can converge $1 trillion. That should be the ambition, mission. You have a little bit of catching up to do. I’ll be delighted if you cross $1 trillion faster than them,” the minister told IT industry leaders.

Goyal welcomed the IT industry’s proposal to start IT hubs in Tier-2 and Tier-3 towns, which would create numerous jobs and help develop the regions. He said the IT industry should identify the towns, and the Centre would assist them in providing all the necessary infrastructure and facilities.

He said the IT industry can make a big contribution to Services exports by focusing on new technology and products that can make India a bigger global player in the sector.

In the virtual meeting over the weekend, the minister told leaders of the IT industry that they should focus on high-tech products. He said the IT industry had grown spectacularly on its own and many of the top companies grew at a time when India did not focus on creating a favourable ecosystem for Startups. Goyal said the Department for Promotion of Industry and Internal Trade (DPIIT) will provide any assistance needed by the IT industry to help it grow rapidly and contribute to India’s export of Services.

The virtual meeting was attended by Nasscom President Debjani Ghosh, Infosys CEO Salil Parekh, Tech Mahindra CEO & MD C.P. Gurnani; Srikanth Velamakanni, co-founder and CEO of artificial intelligence technology startup Fractal Analytics; Mphasis CEO Nitin Rakesh; Wipro Chairman Rishad Premji; Genpact CEO N.V. Tyagrajan; WNS Global Services Group CEO Keshav R Murugesh; Mastek CEO Hiral Chandrana and Krishnan Ramanujam, President and Head of Business & Technology Services at Tata Consultancy Services (TCS).

IT industry leaders said the sector had seen strong growth last year, and in the past week, strong earnings reported by companies has set a positive tone for the years ahead. (PIB)

Tags: IT industryMinister Piyush GoyalTata Consultancy Services (TCS)
Economy India

Economy India

Economy India is one of the largest media on the Indian economy. It provides updates on economy, business and corporates and allied affairs of the Indian economy. It features news, views, interviews, articles on various subject matters related to the economy and business world.

Next Post
FEATURED IMAGE ECONOMY INDIA 1 1

Karnataka will play major role in making India $5 trn economy: CM Basavaraj Bommai

Popular News

  • Innovation and Startup Funding Essential for Developed India: ASSOCHAM

    Innovation and Startup Funding Essential for Developed India: ASSOCHAM

    0 shares
    Share 0 Tweet 0
  • No Charges for Updating Nominee Details in PPF Accounts: Finance Minister Nirmala Sitharaman

    0 shares
    Share 0 Tweet 0
  • Startup Mahakumbh 2025: Piyush Goyal to Inaugurate India’s Biggest Startup Fest

    0 shares
    Share 0 Tweet 0
  • PM Narendra Modi Embarks on Official Visits to Thailand and Sri Lanka to Strengthen Regional Ties

    0 shares
    Share 0 Tweet 0
  • India Poised to Strengthen Global Trade and Manufacturing Amid US Tariff Shifts

    0 shares
    Share 0 Tweet 0
  • ABOUT
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS

Copyright © 2024 - Economy India | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories

Copyright © 2024 - Economy India | All Rights Reserved