India's software exports grew 8.2% to $221.4 billion in 2025-26, RBI survey shows
What happened
According to a Reserve Bank of India survey of 2,363 firms, India’s software services exports—excluding overseas commercial presence—grew 8.2% year-on-year to $221.4 billion in FY26. Computer services accounted for $153.4 billion (69.3%), led by IT services at $147.0 billion. IT-enabled services contributed $68.0 billion, driven by business process outsourcing ($56.0 billion) and engineering services ($12.0 billion).
Why it matters
Export demand remains heavily concentrated in Western markets, with the US accounting for 54.1% of total exports and Europe 31.8%. Delivery mechanisms show strong reliance on remote work, with off-site execution generating 91.7% of volume. The US dollar remained the primary invoicing currency, followed by the euro, rupee, and pound sterling.
Bigger picture
Including foreign affiliates, total software exports reached $239.3 billion, up 9.5%. Local business generated by foreign affiliates of Indian companies expanded from $13.9 billion to $17.9 billion, signaling a growing international physical footprint. Cross-border supply anchored delivery, providing $202.7 billion of the total.
Watch next
Upcoming RBI balance of payments releases and annual surveys to track whether growth in engineering services and foreign affiliate business continues to outpace software product development.