Breaking news live update: India must diversify services exports through technology, says Commerce Secretary Rajesh Agrawal at GFF 2026, tell me about this news in (https://economictimes.indiatimes.com/news/newsblogs/surat-shyam-sangini-textile-market-fire-multiple-shops-engulfed-narendra-modi-satya-niketan-building-collapse-narendra-modi-amit-shah-delhi-ncr-weather-live-updates/liveblog/133948690.cms)
09-09-2026
At the Global Fintech Fest (GFF) 2026 in Mumbai, Commerce Secretary Rajesh Agrawal highlighted the critical need for India to diversify its services export basket by leveraging modern technologies.Key details and highlights from his remarks include:
- Expanding Beyond Traditional IT Services: While information technology (IT) and Business Process Outsourcing (BPO) continue to drive India’s services trade, there is a strategic need to push into high-value domains such as fintech, artificial intelligence solutions, health-tech, ed-tech, and engineering research and development (ER&D).
- Leveraging Digital Public Infrastructure (DPI): He underscored how India’s robust digital public infrastructureincluding UPI, digital identity, and modern payment railscreates a proven blueprint that can be adapted and exported as software-as-a-service (SaaS) and fintech infrastructure to global markets.
- Geographic and Sectoral Diversification: India’s export strategy must focus on reducing dependence on traditional markets (such as the US and Western Europe) by tapping into emerging economies in Southeast Asia, the Middle East, Africa, and Latin America.
- Harnessing Frontier Tech for Competitiveness: Integrating emerging technologies like agentic AI, automated compliance, and digital cross-border settlements will help Indian service providers climb up the value chain and ensure long-term, resilient export growth.