India’s Services Exports Surge to $421 Billion for FY26

India’s services exports maintained a strong upward trajectory in FY26, reaching ₹39.60 lakh crore (US$ 421.3 billion). According to Reserve Bank of India data, this growth was primarily driven by telecommunications, computer, and information services, which generated ₹19.42 lakh crore (US$ 206.6 billion) to account for nearly half of total exports, alongside business services, which contributed ₹11.67 lakh crore (US$ 124.2 billion) or 29.5%. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada emphasized that the government is actively executing a multi-pronged strategy to address sector-specific challenges, broaden market reach, and bolster global competitiveness across knowledge-intensive industries. To sustain this momentum, the government has expanded market access through Free Trade Agreements (FTAs) that facilitate cross-border trade, commercial presence, and international mobility for skilled professionals. These deals integrate provisions like Mutual Recognition Agreements, Social Security Agreements, and the removal of double taxation for IT services. Meanwhile, the Services Export Promotion Council (SEPC) is driving trade promotion via global exhibitions and targeted engagements across healthcare, education, logistics, tourism, legal, and digital sectors, ultimately reinforcing India's long-term economic development as a global services leader. $TCS $INFY $HCL-INSYS $WIPRO