Pheonix Research - Editorial Index
Editorial analysis anchored to industries, segments, and the market intelligence behind them.
Services were $421.3 billion of India's $863.1 billion of exports in FY2025-26 — a 48.8% share Pheonix Research calculates from RBI data. The surplus covered 64.2% of the goods deficit, and no tariff line reaches it.
India's software services exports rose 8.2% to $221.4 billion in FY2025-26, the RBI's survey shows — 54.1% to the United States, with the largest service line growing slowest. NASSCOM's $246.4 billion total counts something else.
