MUMBAI: India's receipts from exports of services rose 15.5 per cent to USD 18.68 billion in May this year, data from the Reserve Bank of India showed on Monday.
In May 2018, the receipts from services exports by India had stood at USD 16.17 billion. Compared sequentially, the services exports during the month were up by 3.4 per cent from USD 18.06 billion in April 2019.
The outgo towards payment of services (imports) rose by 22.4 per cent to USD 12.49 billion in May this year, as against a year ago's USD 10.21 billion. On a month-on-month basis, the services imports in May rose by 9.6 per cent from USD 11.4 billion in April 2019, as per the RBI monthly data on 'India's International Trade in Services'.