Services exports in Nov slips at $11.28 b

Services exports in Nov slips at $11.28 b

India’s exports of services like software, construction, and transportation slipped marginally to US$11.28 billion in November over the previous month, the Reserve Bank of India said.

The services exports totalled US$11.45 billion in October. However, imports increased to US$7.40 billion in the month under review from US$6.82 billion in October.

Services sector plays a major role in India’s economy as it constitutes about 60 per cent of the GDP.

The central bank releases provisional aggregate monthly data on India’s international trade in services with a lag of 45 days.

The services exports during April-November totalled about US$124 billion, while imports were more than US$69 billion.

The net foreign inflows from trade in services was US$46.4 billion in the first six months of the fiscal. India’s merchandise exports in the eight-month period from April to November aggregated to US$192.69 billion and imports equalled US$309.5 billion.