Services sector led India's historic high export of USD 863 bn in FY26
New Delhi, June 16
India's services sector emerged as the key driver behind the country's record combined exports of USD 863.1 billion in FY26, according to data released by the Ministry of Commerce and Industry.
The country's total exports of merchandise and services reached an all-time high of USD 863.1 billion in FY26, registering a compound annual growth rate (CAGR) of 5.7 per cent between FY15 and FY26.
Services exports witnessed robust growth during the period, rising from USD 158.1 billion in FY15 to USD 421.3 billion in FY26. The segment recorded a CAGR of 9.3 per cent over the 12-year period, significantly outpacing merchandise exports.
As a result, the share of services in India's total exports increased from 33.8 per cent in FY15 to 48.8 per cent in FY26, underlining the growing importance of the sector in the country's export basket.
Merchandise exports also maintained a steady growth trajectory, increasing from USD 310 billion in FY15 to a record USD 441.7 billion in FY26. The segment registered a CAGR of 3.3 per cent during the period.
India's non-petroleum exports also touched a record high of USD 387.9 billion in FY26, surpassing the previous peak of USD 374.1 billion recorded in FY25. The segment registered a growth of 3.6 per cent over the previous fiscal year.
According to the data, non-petroleum exports stood at USD 253.6 billion in FY15, rose to USD 266.1 billion in FY18 and remained largely stable at USD 266 billion during the pandemic-affected FY21.
The segment rebounded sharply to USD 354.5 billion in FY22 and continued its upward momentum to reach record levels in FY26, reflecting resilience and structural strength in India's manufacturing and export sectors.
— ANI
Reader Comments
This is what happens when we focus on skill development and education. Our engineers and professionals are the real heroes. But we must also ensure the benefits reach the small towns and villages, not just metros. Services exports might be high, but what about the farmer's income?
Honestly, these numbers look good on paper but ground reality is different. Many SMEs in manufacturing are struggling with high input costs and GST issues. Services growth is impressive, but we need balanced development - not just an IT-driven economy. Still, kudos to our service sector for keeping the flag flying.
As someone working in the IT sector, I can see this growth firsthand. But let's not forget - this success is built on our youth's hard work. However, the government needs to reduce red tape and improve ease of doing business further. We have potential to hit USD 1 trillion soon! 💪
863 billion dollars - ab yeh toh kamaal hai! But I wish our agricultural exports also got similar focus. Our farmers deserve better prices for their produce. Services exports are great for our IT friends, but what about rural India? We need inclusive growth, yaar.
Impressive numbers, but I'm concerned about quality of jobs in services sector. Many are contractual or low-paying gigs. True growth should reflect in better living standards for everyone, not just export figures. Still, it's a sign we're moving in the right direction.
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