India’s service exports fell 2.7% y-o-y in September

India’s service exports fell 2.7% in September compared to the same month last year. The Reserve Bank of India (RBI) reports that the import of services decreased significantly as well, by a more noteworthy 10.3% to reach around USD 14.59 billion.

For the full three months of the September quarter, there was a persistent fall in services imports. The fact that services exports had increased in July and August offered some consolation, though.

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New Delhi, November 2: Service exports of India has registered a year-on-year low of 2.7% in the month of September. According to the Reserve Bank of India (RBI), import of services also fell significantly, declining by a more notable 10.3% to reach almost USD 14.59 billion.

Evidently, the September quarter’s three months had a persistent fall in services imports. The fact that services exports had increased in July and August offered some consolation, though. The data reflect a volatile pattern in the trade of services from India, signifying the ever-changing global economic environment and presenting both prospects and obstacles.

These data demonstrate a volatile pattern in the trade of services from India, signifying the ever-changing global economic environment and presenting both prospects and obstacles.