Union Minister of Commerce and Industry, Piyush Goyal, highlighted the growing role of India’s MSMEs in the IT sector in achieving the country’s ambitious $450 billion services export target. Speaking at the Global Confluence 2025 event in New Delhi, Goyal emphasized that MSMEs in IT, tourism, business accounting, and financial services are essential for both services export growth and job creation.

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• Piyush Goyal stressed the importance of India’s MSMEs in the IT sector for reaching a $450 billion services export target.
• IT and IT-enabled services (ITES) contributed nearly $200 billion to last year’s $340 billion in services exports.
• Services exports are expected to rise to $380–385 billion this year, reinforcing India’s global economic standing.
• Goyal highlighted MSMEs in industries like IT, tourism, and financial services as key drivers of export growth and employment.
• The IT sector’s innovation in quantum computing, AI, and machine learning strengthens its competitiveness.
• Nasscom’s efforts in promoting continuous learning and reskilling were praised for keeping the sector competitive.
• Goyal called for attracting more Global Capability Centres (GCCs) to India to boost foreign exchange earnings and domestic growth.
• The growth of India’s middle class and increasing consumption will drive demand for infrastructure, creating a “virtuous cycle of growth.”
• The government is committed to expanding global partnerships through Free Trade Agreements (FTAs) and bilateral engagements.
• Goyal expressed optimism that India’s IT MSMEs will play a transformative role in achieving a developed “Viksit Bharat.”