Commerce ministry in its latest data has showed that the share of services in India's total exports increased from 33.8 per cent in FY15 to 48.8 per cent in FY26. This growth was driven by the rapid expansion of the IT sector, growth in global capability centres (GCCs), and a post-pandemic shift towards digital delivery of services. Services exports increased from $158.1 billion in FY15 to $421.3 billion in FY26, registering a Compound Annual Growth Rate (CAGR) of 9.3 per cent over the 12-year period.
According to the data, India's total exports reached a record $863 billion in FY26, nearly doubling from $468 billion in FY15, reflecting sustained momentum in both goods and services trade over the past decade. Services exports recorded robust expansion during this period, except in FY21 when they were impacted by the COVID-19 pandemic. Software services, which account for more than 40 per cent of total services exports, remained the key growth driver, while professional and management consulting emerged as the second-largest contributor. Besides, goods shipments too surged from $310 billion in FY15 to $442 billion in FY26.
Highlighting the achievements of the Narendra Modi-led NDA government over the past 12 years, the ministry said it has taken a series of measures for trade facilitation, including simplification of 47 processes; automated FTP (foreign trade policy) processes; auto-validated Importer Exporter Code issuance; and launch of export promotion mission.
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