India’s services exports surged to $421.3 billion in the fiscal year 2025-26, with telecommunications, computer and information services, and business services driving the growth, according to the government. Telecommunications, computer and information services contributed $206.6 billion, while business services added $124.2 billion during the same period. The Minister of State for Commerce and Industry, Jitin Prasada, highlighted the role of Free Trade Agreements (FTAs) and trade promotion events in boosting exports in the Rajya Sabha.
The total services exports showed a steady increase from $254.5 billion in 2021-22 to $325.3 billion in 2022-23, $341.1 billion in 2023-24, and $387.5 billion in 2024-25 before reaching $421.3 billion in 2025-26, as per the government statement. To further enhance services exports growth, the government has adopted a multi-pronged strategy, including market and sector-specific strategies, addressing domestic constraints in consultation with stakeholders, and expanding market access through FTAs.
The government has secured comprehensive market access and national treatment in services to enable Indian service providers to offer services in key sectors on equitable terms through various modes such as cross-border, commercial presence in FTA partner countries, and temporary movement of professionals. Recent FTAs by India have included provisions on domestic regulation to ensure transparent and predictable authorization processes for key services, preventing challenges for Indian service providers in partner countries due to opaque or burdensome regulatory procedures.
Through FTAs, India has established expedited routes to facilitate the temporary mobility of skilled Indian professionals for service provision in foreign markets. Additionally, the government has focused on negotiating Mutual Recognition Agreements (MRAs) between relevant professional bodies to streamline the recognition of qualifications and licensing requirements. These MRAs aim to eliminate duplicative testing, additional training, or lengthy re-certification processes for professionals practicing in partner nations.
Dedicated provisions or annexes related to traditional medicine have been included in agreements with Oman and the EU, among other measures, to bolster services exports.
