India’s services exports reached USD 39.3 billion in September 2026, marking 7.2% growth. Despite a slowdown in the pace of expansion, the country recorded a services trade surplus of USD 19.2 billion, according to the latest RBI trade data.
India’s Services Trade Performance in September 2026
India’s services exports increased by 7.2 per cent year-on-year to USD 39.305 billion in September 2026, although the pace of growth slowed from 13.7 per cent recorded in August, according to data released by the Reserve Bank of India (RBI) on Friday. The RBI’s monthly data on India’s international trade in services showed that services export receipts increased from USD 35.471 billion in August to USD 39.305 billion in September.
However, the year-on-year growth rate moderated from 13.7 per cent in August and 13.4 per cent in July to 7.2 per cent in September.
Imports and Trade Surplus Breakdown
Services imports also increased during September, reaching USD 20.097 billion, up 12.6 per cent from the corresponding month last year. The pace of growth in services imports was lower than the 21.4 per cent recorded in August and 19.1 per cent in July. In absolute terms, services imports increased from USD 18.934 billion in August to USD 20.097 billion in September.
India’s services trade surplus stood at USD 19.208 billion in September, compared with USD 16.537 billion in August, based on the RBI’s export and import figures. During July, services exports stood at USD 38.253 billion, while imports were recorded at USD 20.606 billion.
Provisional RBI Trade Statistics
The latest figures indicate that services exports and imports both increased in September compared with August, even as their respective year-on-year growth rates moderated. The RBI stated that the figures for July to September 2026 are provisional and that the year-on-year growth rates have been revised based on balance of payments statistics.
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