India’s service trade receipts rise in September as RBI releases provisional import payment data
Provisional figures for India’s service trade in September 2026 show a sharp month-on-month increase in export receipts. Import payments also rose from August, while all figures from July to September were described as provisional.
Highlights
- India’s service export receipts stood at 39,305 million U.S. dollars in September 2026 and import payments at 20,097 million U.S. dollars, both up from August.
- The annual growth rates for service export receipts and import payments were 7.2% and 12.6%, respectively, in September, both lower than in August.
- The RBI described the July–September 2026 service trade figures as provisional and noted their importance for understanding trends in India’s foreign exchange flows.
This article was translated from the original. Read the original version by our correspondent here.
September service trade figures
According to the Reserve Bank of India, receipts from services exports stood at 39,305 million U.S. dollars in September 2026, while import payments stood at 20,097 million U.S. dollars. Both were higher than the August 2026 figures of 35,471 million U.S. dollars in export receipts and 18,934 million U.S. dollars in import payments.In July 2026, service export receipts were recorded at 38,253 million U.S. dollars and import payments at 20,606 million U.S. dollars. The table gives the annual growth rates for September as 7.2% for export receipts and 12.6% for import payments, compared with 13.7% and 21.4%, respectively, in August.
Trends and economic significance
The RBI describes the figures for July to September 2026 as provisional. The central bank also says that the growth rates in parentheses are year-on-year comparisons with the same month of the previous year and have been revised based on balance of payments statistics.These figures are important for understanding the contribution of the services sector to India’s external sector and the direction of foreign exchange flows. September’s increase in service export receipts comes at a time when the services sector remains a key pillar of India’s overall international trade performance.
Our previous report on the RBI’s monetary policy review discussed the higher GDP growth and CPI inflation forecasts for FY27, the 25-basis-point increase in the repo rate to 5.5%, and the tightening of the policy stance. The article also covered risks such as food and fuel inflation, a weak monsoon, and elevated commodity prices, as well as measures including OMO sales to absorb liquidity and stabilize the rupee.
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