Services exports down 7% in June

Imports of services, however, were up over 1.6 per cent month-on-month in June to $7.25 billion, compared to $7.08 billion in May, RBI added. The services sector contributes over 50 per cent to India’s GDP. During the first quarter (April-June) this fiscal, cumulative exports of services amounted to $34.34 billion. Imports of services stood at $21.18 billion during the first three months of 2011-12.

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