With reference to service sector in India, Consider the following statements:
1. The share of Services in GVA has been steadily rising for the last 5 years.
2. Software exports comprise nearly half of total services exports from India.
Which of the statements given above is/are incorrect?
● Statement 1 is Incorrect: According to different estimates the The share of Services in GVA has been fluctuated in last 5 years (partially owing to Pandemic and to government efforts to boost manufacturing) ● Statement 2 is correct: According to Economic Survey 2022-2023 Software and business services together constitute more than 60 per cent of India’s total services exports and exhibited strong growth during Q2FY23. They remained resilient in the background of Pandemic with higher demand for digital support, cloud services and infrastructure modernisation.
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