As of 2023, India's exports of ICT services stand at $167.67 billion. Over the last two years, the year-on-year growth rates were 21.15% in 2022 and 15.79% in 2023. The Compound Annual Growth Rate (CAGR) for the past five years from 2018 to 2023 is 14.65%, illustrating a significant upward trend in ICT exports.

Looking ahead, the forecasted data from 2024 to 2028 indicate a steady growth trajectory with an average CAGR of 7.93%. This positions India's ICT services exports at approximately $278.84 billion by 2028, reflecting a 46.49% total growth over the five-year period.

Future trends to watch for:

Expansion of digital transformation initiatives globally, driving demand for ICT services.
Increasing adoption of emerging technologies such as AI, ML, and IoT, opening new market opportunities.
Potential policy changes and incentives from the Indian government to further boost ICT service exports.