Indian Economy News

India's Services Exports Reach US$ 421 Billion in FY26

India's services exports continued their strong growth trajectory, reaching Rs. 39.60 lakh crore (US$ 421.3 billion) in FY26, driven primarily by telecommunications, computer and information services and business services. According to data released by the Reserve Bank of India, telecommunications, computer and information services contributed Rs. 19.42 lakh crore (US$ 206.6 billion), accounting for 49.03% of total services exports, while business services contributed Rs. 11.67 lakh crore (US$ 124.2 billion), representing 29.5% of total exports. In a written reply in the Rajya Sabha, Minister of State for Commerce and Industry Mr. Jitin Prasada highlighted that the Government continues to implement a multi-pronged strategy to enhance services exports by addressing sector-specific challenges, expanding market access and strengthening India's global competitiveness across key services sectors.

The Government has secured comprehensive market access for Indian service providers through Free Trade Agreements (FTAs), enabling greater cross-border trade, commercial presence and easier mobility for skilled professionals. Recent agreements have also incorporated provisions on Mutual Recognition Agreements, Social Security Agreements, traditional medicine and the elimination of double taxation for information technology services, improving opportunities for Indian professionals and businesses in global markets. Complementing these initiatives, the Services Export Promotion Council (SEPC) has intensified trade promotion through international exhibitions, buyer-seller engagements and sector-focused events covering healthcare, education, tourism, logistics, legal services and digital industries. These measures are expected to strengthen India's position as a leading global services exporter, expand international market access, enhance export competitiveness and support sustained growth across knowledge-intensive sectors, contributing to the country's long-term economic development.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.