Receipts from the services sector, which accounted for two-third of the total receipts grew about 9% to $310.242 billion, data showed.
These are known as invisible receipts as these reflect earnings a country generates from IT services, tourism and remittances & transfers rather than international trade in physical goods.
The RBI released the data on India’s invisibles in accordance with the International Monetary Fund’s balance of payments and international investment position manual.
The growth in the receipts from the services sector was largely on account of earnings from telecommunication, computer and information services. This was recorded at $152.606 billion for the nine month period, reflecting a 13% jump from the year-ago period’s $135.609 billion.
Income from business services however slowed to $77.779 billion for the nine months period from $91.103 billion in the year-ago period. Earnings from overseas banking services also slowed to $5.695 billion from $4.520 billion.
The primary income category, India received $42.917 billion against $41.502 billion. Under this category, investment income receipts declined to $28.738 billion against $29.801 billion a year ago.The secondary income receipts, which reflect inward remittances from people working abroad, personal gifts and money received by charitable institutions among others, rose 10% to $111.029 billion, data showed.