This paper presents empirical results of determinants of mode choice for freight services in India. The Leeds Adaptive Stated Preference software was used for the main survey on the Delhi to Bombay corridor. The empirical results show that frequency of service is an important attribute determining mode choice. Valuation of reliability is generally lower than expected. Value of time is quite similar across different product segments. The results further suggest that intermodal services can be viable for high value and finished goods.