India doubles its share of global commercial services exports in 2005-2022

India has doubled its share of global commercial services exports to 4.4 per cent in 2022 from 2 per cent in 2005, according to a World Bank and World Trade Organization (WTO) report.

"China and India doubled their share of global commercial services exports from 2005 to 2022, from 3.0 per cent to 5.4 per cent, and from 2.0 per cent to 4.4 per cent, respectively," it said.

The report titled 'Trade in services for development' also said that in India, South Africa and Trkiye, jobs directly linked to cross-border services exports account for more than 10 per cent of total services sector jobs.

"The developing economies' impressive trade performance under this expanded measure of trade in services is largely due to four economies that rank as leading services exporters and importers-- China; Hong Kong; Singapore; India," the report said.

It added that India and the Philippines will need to upskill and reskill their workforces and invest in the development of their domestic services ..