India’s Services Exports Hit 48.8% of Total Exports in FY26

Services Exports Drive India’s Economic Momentum

India’s services exports have surged, now accounting for 48.8% of the nation’s total exports in FY26, a significant jump from 33.8% in FY15. This growth signals a major shift in India’s export landscape, complemented by a robust performance in the manufacturing sector.

Key Figures: Services and Manufacturing Boost

According to the Commerce Ministry and Reserve Bank of India (RBI) data, key economic indicators show strong upward trends:

• Services exports reached $421.3 billion in FY26, up from $158.1 billion in FY15.
• This represents a Compound Annual Growth Rate (CAGR) of 9.3% over the 12-year period.
• India’s total exports hit a record $863 billion in FY26.
• Sales for over 1,800 listed private manufacturing companies expanded by 14.5% in Q4FY26, compared to 11.4% in the previous quarter.
• This manufacturing growth was primarily led by the automobiles, electrical machinery, and non-ferrous metals industries.
• IT companies also saw improved sales growth, reaching 9.9% year-on-year during Q4FY26, up from 8.8%.
• Overall, listed private non-financial companies recorded a double-digit sales growth of 13.9% during Q4FY26, an increase from 10.1% in the prior quarter.

Drivers Behind the Export Surge

The Commerce Ministry attributes the services export boom to several factors. These include the rapid expansion of the IT sector, the growth of global capability centres (GCCs), and a post-pandemic shift towards digital delivery of services. This underscores India’s increasing role as a global service hub.