India should diversify IT exports to navigate Trump-led trade era: Global Trade Research Initiative

India should diversify its IT exports to mitigate risks arising from potential tariffs under US President-elect Donald Trump as a significant portion of India’s IT export revenue comes from the United States, think tank Global Trade Research Initiative (GTRI) said on Sunday.

India’s total software service exports stood at $205 billion in 2023–24. The US accounted for 54 per cent of these exports, followed by Europe at 31 per cent, according to the Reserve Bank of India’s (RBI) annual survey on computer software and information technology-enabled services (ITES) exports.