Recent trade data points to consequential shifts in India’s export basket. Three broad trends emerge. First, after registering robust growth in 2021-22, the country’s merchandise exports slumped in the second half of 2022-23. However, during this period, exports of electronic goods and mobile phones have seen a significant jump. Second, over the same period, services exports grew at a robust pace, even as the fourth quarter results of major IT firms suggest a subdued near-term outlook. Third, within services, exports of “other” IT services have gained considerable traction in the recent past. This suggests the emergence of other drivers of…