India’s services exports increased by 20.2 per cent year-on-year to $23.26 billion in July, according to Reserve Bank data.
The July exports were, however, lower than $25.29 billion in June this fiscal. As per the monthly data on India’s international trade in services for July 2022, the imports rose 22.3 per cent to $13.92 billion in July. In June, the imports stood at $15.76 billion.
The exports during April-July 2022-23 stood at $94.75 billion, and the imports totalled $58.94 billion during the period. Monthly data on services are provisional and are likely to undergo revision when the Balance of Payments (BoP) data are released on a quarterly basis, the RBI said.