RBI · Macro Data
RBI reports 7.2% rise in services exports to $38,208 million in March 2026
India's services exports grew 7.2% year-on-year in March, while imports fell 1.6%, widening the trade surplus.
What changed
- Services exports rose 7.2% to $38,208 million in March 2026
- Services imports declined 1.6% to $17,210 million in March 2026
- Trade surplus in services increased compared to March 2025
The read
Services exports grew 7.2% in March. Imports contracted 1.6%, meaning the net services surplus widened, offering a valuable cushion against the persistent deficit in merchandise trade. The export growth rate eased from double-digit levels in January and February but remained sturdy. Verdict: services continue to shield India's external balance.
Key numbers
- Exports March 2026: $38,208 million
- Imports March 2026: $17,210 million
- Export growth: 7.2%
- Import growth: -1.6%
Primary source: rbi.org.in