India's Services Exports See Slight Drop To $30 Billion In March: RBI
Mumbai, May 2 (PTI) India's services exports declined 1.3 per cent in March to USD 30 billion while imports fell by 2.1 per cent to USD 16.61 billion, showed Reserve Bank data released on Thursday.
India's services exports declined 1.3% in March to $30 billion while imports fell by 2.1% to $16.61 billion, showed Reserve Bank data released on Thursday. As per RBI's data on India’s international trade in services, the trade surplus during March 2024 was $13.4 billion.
Both exports and imports of services were in positive zone in the preceding two months.
According to the commerce ministry data, the services export during fiscal 2023-24 is estimated at $339.62 billion and imports at $177.56 billion.
The trade surplus or difference between exports and imports works out to be $162 billion during the year.
Despite persistent global challenges, overall exports (merchandise and services) are estimated to reach $776.68 billion in 2023-24 as compared to $776.40 billion in 2022-23.
