India’s services exports help cushion external sector against geopolitical disruptions

New Delhi: India’s services exports have expanded faster than the global average over the past decade, helping cushion India’s external sector against geopolitical disruptions, reducing vulnerabilities and supporting trade stability, according to a government factsheet on Sunday.

Between 2015 and 2025, services exports grew at a compound annual rate of 10.3 per cent, compared with 6.6 per cent globally.

Consequently, India’s share of global services exports increased from 3.1 per cent to 4.3 per cent. During April-October FY 2026-27, they accounted for 45.7 per cent of total exports.

“India’s growing network of trade agreements is widening access to overseas markets for its services sector. These agreements ease professional mobility and open opportunities for Indian providers across diverse services,” said the factsheet.

Moreover, India’s merchandise export growth drew strength from industrial goods as well as agricultural and traditional products. During April-October FY 2026-27, seven of the 10 leading export categories recorded double-digit growth.

India’s export reach also widened during April-September FY 2026-27, with 1,985 new product-market pairs generating $622.1 million in exports. These covered 116 product groups across 229 countries and territories.

India’s exports grew 16.66 per cent to $568.84 billion during April-October FY 2026-27, with gains across products, services and overseas markets. Export promotion measures, expanding trade partnerships and improved logistics are helping Indian businesses sustain this momentum.

This growth complements India’s broader economic progress, marked by 7.8 per cent GDP growth in April-June and unemployment declining to 5.1 per cent in July-September.

Major international organisations also reinforce this positive picture, projecting continued strong growth for FY 2026-27, said the factsheet.

The month of October added further momentum, with total exports estimated at $89.99 billion, registering 29.90 per cent year-on-year growth.

The wider export basket also reflects strong growth. Non-petroleum exports rose 18.01 per cent to $259.22 billion in April-October, said the factsheet.

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