Services exports touch $11.23 bn in Feb

India's services exports grew 1.8% to $11.23 billion in February this fiscal over the previous month, the Reserve Bank of India (RBI) said today.

Export of services were $11.02 billion in January.

With the RBI making available data for the penultimate month of 2011-12, total services exports during April-February has totalled $124.25 billion.

However, the central bank said that the figures for January and February are provisional and "would undergo revision" when the Balance of Payment (BoP) data are released.

Services exports, as per the BoP data, were $102 billion during April-December 2011-12 as against $96.4 billion in the same nine months of the previous fiscal.

 

India's major services export include computer, telecommunications and information services, construction services, and transport and travel services.

The services exports data has been released on a day, the government announced that country's merchandise overseas shipments have crossed $300 billion mark in 2011-12.

The RBI data further revealed that the import of services declined in February to $6.75 billion from $7.33 billion in the previous month.

India's outlfows on import of services during April-February have totalled $72.08 billion.