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India's services exports increased by 20.2 per cent year-on-year to $23.26 billion in July, according to Reserve Bank data released on Thursday.
The July exports were, however, lower than $25.29 billion in June this fiscal.
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The primary culprit was the growth in the manufacturing sector, which grew by just 4.8 per cent in Q1As per the monthly data on India's international trade in services for July 2022, the imports rose 22.3 per cent to $13.92 billion in July. In June, the imports stood at $15.76 billion.
The exports during April-July 2022-23 stood at $94.75 billion, and the imports totalled $58.94 billion during the period.
Monthly data on services are provisional and are likely to undergo revision when the Balance of Payments (BoP) data are released on a quarterly basis, the RBI said.
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