India’s receipts from invisible services declined 4 per cent to USD 57.61 billion in the October-December quarter of 2015-16, while payments towards such activities rose by 5.8 per cent to USD 30.67 billion, the RBI said today.
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 RBI 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 USD 37.89 billion, down 4.4 per cent from a year ago.
The receipts from primary income, however, increased by 29.4 per cent to USD 3.79 billion. The secondary income receipts were down by 8.8 per cent at USD 15.93 billion.
In the invisibles payments category, services payments from India increased by 2.3 per cent to USD 19.8 billion for the quarter ended December of 2015-16.
Invisibles payments from primary income sources also grew by 16.5 per cent at USD 10.21 billion.
While that from secondary income, the invisibles payments fell by 25.5 per cent to USD 665 million.