What happened
India’s services exports, which the Reserve Bank of India (RBI) records as receipts, were $39,305 million in September 2026, up 7.2% from September 2025. Services imports, recorded as payments, were $20,097 million, up 12.6%. The RBI published the figures on 30 October 2026.
Services trade covers things India sells to or buys from other countries that are not physical goods. The RBI release does not break the numbers down by type of service.
The numbers month by month
| Month | Exports ($ million) | Export growth | Imports ($ million) | Import growth |
|---|---|---|---|---|
| July 2026 | 38,253 | 13.4% | 20,606 | 19.1% |
| August 2026 | 35,471 | 13.7% | 18,934 | 21.4% |
| September 2026 | 39,305 | 7.2% | 20,097 | 12.6% |
Growth rates compare each month with the same month a year earlier. The RBI says they have been revised using balance of payments statistics, which is the record of a country’s transactions with the rest of the world.
September had the highest export value of the three months, but its year-on-year growth was the slowest. Import growth also eased, from 21.4% in August to 12.6%.
What it means for you
Services exports bring foreign currency into India, while services imports mean payments going out. Using the RBI’s figures, exports exceeded imports by about $19,208 million in September (39,305 minus 20,097). This is a simple subtraction of the two published numbers, not a figure the RBI itself reports in this release.
If you want to see what foreign-currency amounts are worth in rupees, you can use the Currency Converter.
Background
The RBI releases monthly services trade data as a quick indicator before the fuller quarterly balance of payments numbers are out. The July to September figures are provisional, so they may change when those fuller statistics are published.
