ALSO READPrabhu to meet industry nxt month on new industrial policy Commerce ministry to launch campaign to promote GI products New issues in WTO important for aspirational India: Prabhu India will be a 5 Trillion Dollar Economy: Suresh Prabhu Inefficient logistics impacting competitiveness of Indian products: MoS Commerce & Industry
India's services exports in February dipped by 3.84 per cent on monthly basis to USD 15.71 billion, according to RBI data.
Imports during the month under review recorded a growth of 3.1 per cent to USD 10.14 billion.
The trade balance in services (that is net export of services) for February was estimated at USD 5.57 billion.
The services sector contributes over 55 per cent to the country's Gross Domestic Product.
The Commerce and Industry Ministry is taking steps to promote the exports.
The government has approved an action plan for 12 'champion' services sectors, including IT, tourism and hospitality, for realising their potential through establishment of a Rs 5,000 crore dedicated fund.