As per the Reserve Bank India data, the services exports of India has been increased by 20.2% year-on-year to $23.26 billion in July 2022. However, the July exports were lower than June by $25.29 billion in 2022.
As per the monthly data on India’s international trade in services for July 2022, the imports surged by 22.3% to $13.92 billion in July. The exports during April-July 2022-23 stood at $94.75 billion, and the imports totalled $58.94 billion during the period.