Free Demo Request

India Services Export up 3.4% to Over $160 BN in FY 17

Date 16-May-2017
Subject India Services Export up 3.4% to Over $160 BN in FY 17

MUMBAI: India's services export grew 3.4 per cent to $160.68 billion last fiscal, RBI data showed. 

The receipts from services export were $155.41 billion in the preceding fiscal 2015-16. 

Also, payments for services imported by India also increased to $95.47 billion for fiscal ended March 2017, up 11.4 per cent from $85.72 billion a year ago. 

For March 2017, the services export grew 10 per cent to $14.18 billion from $12.90 billion in the corresponding month a year ago. 

While payments done by India for services import in March 2017 increased to $8.27 billion, up 4.6 per cent from a year ago. 

India is one of the major economies contributing to world services export industry. 

Services sector contributes to about 55 per cent in India's gross domestic product. 

The data for the latest month comes with a lag of 45 days. 

The data published by Reserve Bank (RBI) is provisional initially and undergoes revision when the Balance of Payments (BoP) data is released on a quarterly basis. 

Source: Economictimes.indiatimes.com

High-volume of Loyal
and Trusted Customers!

We feel pride in offering our customers the wide range of products of the top leading brands of the world.

BCG Binani
Godrej
Induslnd Bank
Indian Oil
ITC Limited
Jindal Steel Power
Milton
Paharpur
Philips
Reliance
TATA Chemicals Limited
The Times of India
Wipro
Yamaha
Dalmia Bharat Cement
JCB
Pernod Ricard