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Informist, Thursday, Jan. 29, 2026

 

NEW DELHI – Amid subdued global goods trade owing to geopolitical disruptions and tariffs, services exports have provided India with a critical buffer, the Economic Survey for the financial year 2025-26 (Apr-Mar) has observed. The Survey stressed that the momentum should be sustained through continued diversification within services and further movement up the value chain in keeping with evolving global demand.

 

In the first six months of FY26, the share of services exports in GDP rose to 10% from 9.7% in the corresponding period of FY25. "Services exports have become a central pillar of India's external sector and a key driver of growth. Their share in GDP averaged 9.7 per cent between FY23 and FY25, up from 7.4 per cent in the pre-pandemic period," the Economic Survey, tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman Thursday, noted.

 

The near doubling of India's services exports to 14?tween FY23 and FY25, compared with 7.6% in the period from FY16 to FY20, indicate "strong and broad-based" global demand for Indian services, it said.

 

Amid increasingly competitive conditions in the global services markets and heightened policy uncertainty, services export growth moderated to 8% in the eight months ending November. Software services, accounting for over 40% of total services exports, remain the primary driver of growth, expanding at an average rate of 13.5% during FY23-FY25 compared with 4.7% during FY16-FY20, supported by strong global demand for digital services, the Survey said.

 

Professional and management consulting services have emerged as the second-largest contributor with a rate of growth of 25.9%, taking their share to 18.3% in FY23-FY25 from 10.5% during FY16-FY20. "Together, these segments account for over 65 per cent of services exports, highlighting India's growing specialisation in cross-border, knowledge-intensive activities," the Survey said.  End

 

Reported by Asim Khan

Edited by Rajeev Pai

 

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