New Delhi (TIP): India’s services exports increased to USD 421.3 billion in FY 2025-26 from USD 387.5 billion in FY25, according to figures presented in the Rajya Sabha by Minister of State for Commerce and Industry Jitin Prasada.
With USD 206.6 billion, or 49.03 per cent of total services exports, telecommunications, computer and information services continued to be the largest contributor. Business services accounted for another USD 124.2 billion, or 29.5 per cent of total exports.
The government said it aims to increase services exports through Free Trade Agreements (FTAs), improved market access, greater professional mobility, Mutual Recognition Agreements (MRAs), and measures to address social security and double taxation issues.
These MRAs aim to ensure that partner countries recognise each other’s professional qualifications, helping professionals avoid time-consuming re-certification procedures, additional training or redundant local testing before they can begin practising.
At the same time, the government is promoting Indian service providers through international trade shows, exhibitions and industry-specific programmes in the fields of tourism, healthcare, education, gaming, entertainment, logistics and fintech.
India’s crude basket jumps 11% to $103.33 amid supply disruptions
New Delhi, July 25 (TIP): India’s crude oil basket has climbed sharply by around 11% to $103.33 per barrel, reflecting mounting supply disruptions and renewed geopolitical uncertainties in key oil-producing regions. The surge has intensified concerns over the country’s import bill, inflationary pressures, and the outlook for fuel prices in the coming weeks.
The Indian basket-a weighted average of crude grades imported by the country-rose from around $93 per barrel in the previous assessment to $103.33 per barrel, crossing the psychologically significant $100 mark for the first time in several months. The increase follows tightening global crude supplies as disruptions in production and exports from major oil-producing regions reduced the availability of crude in international markets.
India imports more than 85% of its crude oil requirements, making it particularly vulnerable to fluctuations in global energy prices. A sustained rise in crude prices increases the country’s import costs, widens the trade deficit, and puts pressure on the rupee.
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