Reserve Bank of India Reports Services Exports Reached 39.3 Billion Dollars in September 2026
On October 30, 2026, the Reserve Bank of India released monthly data showing the value of India's international trade in services for September 2026. Services trade involves money received from selling services to other countries and payments sent abroad to buy services. The central bank reported that receipts, which measure exports, stood at 39,305 million US dollars in September 2026. Payments, which measure imports, were 20,097 million US dollars in the same month. These statistics show how much foreign currency enters and leaves the country through service transactions. A surplus of receipts over payments helps the national balance of payments by bringing in more foreign currency than goes out. Export receipts grew by 7.2 percent compared with September 2025, while import payments grew by 12.6 percent. The release also showed July export receipts of 38,253 million dollars and August receipts of 35,471 million dollars. All figures for July to September 2026 are provisional.
What was announced
The Reserve Bank of India issued press release 2026-2027/1415 on October 30, 2026, signed by Deputy General Manager of Communications Ajit Prasad. The release presented figures for three months: July 2026, August 2026, and September 2026.
In September 2026, export receipts reached 39,305 million US dollars. That was a 7.2 percent growth rate compared to September 2025. Import payments for the month reached 20,097 million US dollars, which was a 12.6 percent increase over the previous year.
The release also provided revised growth figures based on balance of payments statistics:
- In July 2026, export receipts were 38,253 million US dollars (13.4 percent growth), and import payments were 20,606 million US dollars (19.1 percent growth).
- In August 2026, export receipts were 35,471 million US dollars (13.7 percent growth), and import payments were 18,934 million US dollars (21.4 percent growth).
All data for July to September 2026 are provisional.
What it means
In international trade accounting, receipts mean money entering India from services sold to foreign buyers. Payments mean funds sent out of India to buy foreign services.
Across each reported month, India took in more money than it paid out. In September 2026, export receipts exceeded import payments by 19,208 million US dollars. In July, that surplus was 17,647 million dollars, and in August, it was 16,537 million dollars.
Year-on-year growth slowed noticeably in September. Export growth fell from 13.7 percent in August to 7.2 percent in September. Import growth dropped from 21.4 percent in August to 12.6 percent in September. Even with slower annual growth, September export receipts were the highest among the three months.
What the announcement does not tell us
The announcement provides high-level totals without further breakdown. It does not explain:
- Which specific service sectors contributed to the receipts or payments.
- Why the rate of growth slowed down in September.
- Which countries or regions traded with India.
- When these provisional numbers will be finalized.
How this was written
This analysis was written with AI from the official announcement below, using only facts that announcement states. The quoted wording is Reserve Bank of India Press Releases’s own. Always check the original before acting on anything here.
The values of exports and imports of services during September 2026 are presented in the following table. International Trade in Services (US$ million) Month Receipts (Exports) Payments (Imports) July – 2026 38,253 (13.4) 20,606 (19.1) August – 2026 35,471 (13.7) 18,934 (21.4) September – 2026 39,305 (7.2) 20,097 (12.6) Note: (i) Data for July-September are provisional. (ii) Figures in parentheses are growth rates over the corresponding month of the previous year, which have been revised on the basis of balance of payments statistics. Ajit Prasad Deputy General Manager (Communications) Press R
Opens www.rbi.org.in
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