Mumbai, October 02: In a reflection of depressed overseas markets and impact of Mumbai terror attacks, India’s income from tourist services, export of software services among other receipts fell 0.7 per cent in the first quarter of this fiscal from over 30 per cent rise recorded a year ago.
“Invisibles receipts registered a marginal decline of 0.7 per cent in Q1 of 2009-10 (as against a higher growth of 30.3 per cent in Q1 of 2008-09) on account of a decline in almost all categories of services except insurance and financial services and a decline of 20.3 per cent in investment income receipts,” according to data from the Reserve Bank.
Invisibles comprise trade in various services like software, travel, insurance, NRI remittances and income from investment.
Income from invisibles stood at USD 38.6 billion in the first quarter of this fiscal against USD 38.9 billion a year ago.
–PTI