India Services Exports Grow 12.7% in April 2026 to USD 37 Billion: RBI Data

India's international trade in services posted a strong start to the new financial year, with services exports rising 12.7 per cent year-on-year to USD 37,021 million in April 2026, according to provisional monthly data released by the Reserve Bank of India on 29 May 2026. Services imports for the month stood at USD 18,417 million, up 8.9 per cent over April 2025.

The data continues a four-month sequence of double-digit export growth — receipts grew 9.8 per cent in January 2026, 9.7 per cent in February and 7.2 per cent in March, before accelerating in April. Services trade has been a key cushion against goods-trade headwinds from the West Asia conflict, with software, business services and travel exports holding up despite weaker external demand for merchandise.

India's net services surplus for April 2026 came in at USD 18,604 million, the highest monthly figure in recent quarters. The surplus partly offsets the country's persistent goods-trade deficit and is a major reason why India's current account balance has stayed manageable even with elevated crude oil prices.

The Reserve Bank cautioned that figures for January to April are provisional and may be revised on the basis of balance of payments statistics. Detailed sector-wise breakdowns for the quarter, including the split between software, financial, travel and transport services, will be published with the Q1 2026-27 balance of payments release.