India Ranking Fourth in Digitally Delivered Service Export Surpassing Germany

In the 21st-century digital era, India gradually topping the chart in digitally delivered services as an exporter. It has bagged the fourth-largest exporter position in Digitally Delivered Services globally overshadowing Germany. India’s determination, resilience, and innovation in technology are showing advancements to strengthen the future of the Indian economy in its Amrit Kaal.

According to the Global Trade Outlook and Statistics report, of the World Trade Organization (WTO), export of digitally delivered services by India reached US$ 257 billion in 2023. The country has marked a tremendous growth of 17% and is now only behind the United States, the United Kingdom, and Ireland in the segment.

The export of digitally delivered services reached US$ 4.25 trillion in 2023 with a 9% year-on-year (YoY) growth. At present, the share of these services accounts for 13.8% of the world’s total export of services and goods. Ironically trading of goods witnessed a slowdown across the globe, but the exports of digitally delivered services showed an upward trend in 2023.

The digitally delivered services form various categories such as Professional, Business, and Technical Services. It consists of around 41.2% of world exports. As per the report, the other services that include a significant share in global exports are Computer Services (20.5%), Financial Services (16%), Intellectual Property-Related Services (10.9%), etc.  

In the last few years, the speedy adoption of artificial intelligence (AI) across the segments has played a vital role. It consists of models that have the potential to create various innovative content like text, images, videos, and music. The trend has shown fast growth in 2023 witnessing the penetration and advancement of the latest technology in day-to-day life.

According to the WTO, the volume of world trade is expected to rise by 2.6% (2024) and 3.3% (2025) respectively after witnessing a low of 1.2% (2023). Thus, the world is expecting a high demand for digitally delivered services as trade. It has brought a fresh facet to the growth of the digital economy ensuring further innovation, enhanced efficiency, tailored job prospects, and cost savings. This will promise new trade opportunities for leading digital economies to come forward with innovative solutions during the ongoing economic turnarounds.