Recognising the rapid expansion of India’s MSMEs in IT, tourism, business accounting, and financial services, Union Minister of Commerce & Industry, Shri Piyush Goyal, underscored their critical role in boosting services exports and job creation. Speaking at the Global Confluence 2025, organised by Nasscom in New Delhi, he expressed confidence in the sector’s ability to achieve an ambitious $450 billion services export target in the next financial year.

Shri Goyal highlighted the IT and IT-enabled services (ITES) sector as a driving force behind India’s economic growth, noting that services exports reached approximately $340 billion last year, with IT and ITES contributing nearly $200 billion. This year, exports are projected to rise to $380–$385 billion, further solidifying India's position in the global market.

He commended the IT sector’s culture of innovation and adaptability, crediting Nasscom for fostering continuous learning. By embracing cutting-edge technologies such as quantum computing, artificial intelligence, and machine learning, Indian IT firms continue to stay ahead of global trends. Shri Goyal also stressed the importance of attracting Global Capability Centres (GCCs) to India, leveraging the country’s deep talent pool to enhance foreign exchange earnings and drive domestic economic growth.

Discussing India’s growing middle class and rising consumption levels, he pointed to the cascading benefits of IT-driven expansion, including increased demand for commercial real estate, housing, and infrastructure. Calling it a “virtuous cycle of growth,” he emphasised how a thriving services sector strengthens the overall economy.

Nasscom, he noted, must continue reskilling and upskilling IT professionals to keep pace with rapid technological advancements. He reaffirmed the government’s commitment to strengthening global trade partnerships through Free Trade Agreements (FTAs) and bilateral engagements, noting that numerous international markets are eager for increased collaboration with India.

Shri Goyal concluded by expressing confidence in India’s IT sector and MSMEs as key engines of economic transformation in the Amrit Kaal, collectively driving the nation towards a developed and prosperous Viksit Bharat.

Outlook on India’s IT Sector and Services Exports India’s IT industry remains a cornerstone of the nation’s economic ambitions, with MSMEs playing an increasingly influential role in shaping global service exports. As digital transformation accelerates worldwide, India’s robust IT talent, competitive cost structure, and expanding global partnerships position the country as a leader in the knowledge economy. With strategic government support, increased investment in emerging technologies, and a focus on skill development, India's IT sector is poised to surpass its export targets, reinforcing its status as a global technology powerhouse.