In this work we present a systematic study of the electronic structure in high quality MOVPE grown InxGa1-xAs/InP quantum wells (QWs). The excitonic transitions in the QWs have been studied as a function of QW width as well as strain by using a combination of Fourier Transform photoluminescence (FTPL) and Fourier Transform photoluminescence excitation (FTPLE) techniques. Detailed information on the energy positions for the excitons associated with various subbands (for the electrons, heavy and light holes) up to n=5 has been obtained. The experimentally determined energy positions have been identified by comparison with theoretical predictions based on an effective mass model and bulk deformation potential theory.