Trade deal talks on: Faster services trade data compilation in the works

The commerce department is working on a strategy to compile comprehensive monthly services trade data with a turnaround time of less than 30 days which may enable timely policy making, an official aware of the matter said.

Currently, the services trade data, which is released by the Reserve Bank of India (RBI), comes with a lag of two months. Besides, it doesn’t contain the sector-wise as well as country-wise numbers.

The Department of Commerce, that is in charge of international trade, mostly relies on the central bank’s data for services trade data.

So to expedite the process, the Director General