India’s receipts from invisible services down 4% in December quarter

MUMBAI: India’s receipts from invisible services declined 4% to $57.61 billion in the October-December quarter of 2015-16, while payments towards such activities rose by 5.8% to $30.67 billion, the RBI said on Tuesday.

Invisibles refer to payments and receipts resulting from international trade in ‘invisible’ services rather than ‘visible’ goods. It comprises services, primary income and secondary income. The Reserve Bank of India released the data on India's invisibles in accordance with IMF’s Balance of Payments and International Investment Position Manual for October-December of 2015-16.

As per the RBI data, the invisibles receipts from services in the third quarter ending December stood at $37.89 billion, down 4.4%from a year ago. The receipts from primary income, however, increased by 29.4%to $3.79 billion. The secondary income receipts were down by 8.8% at $15.93 billion.

In the invisibles payments category, services payments from India increased by 2.3%to $19.8 billion for the quarter ended December of 2015-16.