If India were trading in only goods, a massive deficit of about $150 bn would have forced down the rupee's value, making Indian manufactured goods cheaper in export markets, writes T N Ninan
The facility to claim benefits under SEIS on payments in Indian currency will not be available for services rendered in FY20
The scheme - Duty Remission of Export of Services Scheme or DRESS - will reimburse the un-refunded taxes and duties embedded in services exports
Services exports are estimated to have grown 28.68 per cent YoY to $21.17 billion in April
We must acknowledge that India cannot replicate the export orientation of the East Asian manufacturing story, or even Bangladesh. The services story will have to compensate for this, writes T N Ninan
The services exports (receipts) in September 2019 stood at $17.54 billion
While both have seen a drop in external trade in relation to GDP, the reasons are quite different - in China it is in part a problem of success, in India it points more to failure, writes T N Ninan
The exports stood at 17.73 billion in February.
Surplus in trade services stood at $7.45 billion for December
The government had unveiled big plans for the services sector last year
Services exports, or receipts from such services, were of order of $13.43 billion in May 2016
Some banks refuse to give FIRC to exporters of services saying FEDAI restrains them from doing so