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India's Imports Surge: RBI Reports Record Growth
1 Sep
Summary
- Services imports increased by 19.1% year-on-year in July 2026.
- Exports of services reached US$ 38,253 million in July 2026.
- Import payments for services show a significant pick-up.
The Reserve Bank of India has announced a significant increase in India's services import figures. As of July 2026, the country's services imports experienced a substantial year-on-year surge of 19.1%, reaching US$ 20,606 million. This marks a sharp acceleration in payments for imported services.
Concurrently, India's services exports also demonstrated robust performance, growing by 13.4% year-on-year to US$ 38,253 million in July 2026. Compared to April 2026, services exports saw a modest increase of approximately 3.30%, while imports showed a more pronounced rise of around 11.90%, highlighting the growing demand and expenditure on services from abroad.
