5 Minutes Read
India’s services exports decline marginally in March to $30 billion
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
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 a positive zone in the preceding two months.
India’s services exports declined 1.3% in March to $30 billion while imports fell by 2.1% to $16.61 billion, according to Reserve Bank of India (RBI) data released on Thursday (May 2).
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 a positive zone in the preceding two months.
Also Read: India must prepare for a US stagflation, says Sanjeev Sanyal
According to the commerce ministry data, the services exported during fiscal 2023-24 are 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.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
