India's export of services down 5.6 pc in Sept;imports fall 0.8 pc

Mumbai, Nov 16 (PTI) India's export of services fell by 5.6 per cent year-on-year to USD 11.22 billion in September, according to the Reserve Bank of India. The country's total receipts from services exported stood at USD 11.89 billion in August, according to the provisional data released by the country's central bank. Imports of services also fell marginally by 0.8 per cent in September to USD 6.80 billion, compared to USD 6.86 billion in August. Overall, the services sector contributes over 50 per cent of India's GDP. During the April-September period of the current 2011-12 fiscal, the country's cumulative exports of services amounted to USD 67.87 billion. Imports, meanwhile, stood at USD 40.73 billion during the first six months of 2011-12. This monthly provisional data will undergo a revision with the Balance of Payments (BoP) data which is compiled on a quarterly basis. PTI