Govt says India’s services exports cross 348 billion dollars during April–January of current FY        

The government today said that the country’s services exports continue to show strong growth, with exports reaching over 348 US billion dollars during April to January of the current financial year (FY). The services exports accounted for 10 percent of the country’s GDP in the first half of FY26, underscoring the sector’s growing contribution to the economy.
 
Highlighting the proposed Union Budget 2026-27, the Government said that several measures have been taken by the government to further strengthen the services sector. These include tax holidays until 2047 for foreign companies providing cloud services using infrastructure located in India, along with reforms in the Safe Harbour regime for IT services and improvements in Advance Pricing Agreements to simplify tax compliance.
 
It said that the Software services remain the largest component of India’s services exports, contributing over 40 percent, while business and consulting services have emerged as major growth drivers. Expanding Global Capability Centres, growing artificial intelligence capabilities, and improved global market access through trade agreements are also expected to accelerate India’s services exports. The government aims to make India a global leader in services trade with a 10 percent global share by 2047, supporting growth, employment, and integration with the global economy.