RBI Data on India’s Invisibles for Third Quarter (October-December) of 2024-25 [PDF]

The Reserve Bank of India (RBI) has released data on India’s ‘invisibles’ for the third quarter (October–December) of the fiscal year 2024-25, compiled in accordance with the International Monetary Fund’s Balance of Payments and International Investment Position Manual (BPM6).

‘Invisibles’ encompass non-physical transactions such as services, remittances, and investment income, playing a crucial role in India’s balance of payments by offsetting the merchandise trade deficit.

Key Highlights:

• Services Exports: India’s services exports continued to demonstrate strength, contributing significantly to the current account.
• Remittances: Private transfer receipts, primarily representing remittances from Indians working abroad, remained robust, providing a steady source of foreign exchange.
• Investment Income: Net investment income outflows were moderated, aiding in narrowing the current account deficit.

The sustained performance of the ‘invisibles’ sector underscores its importance in maintaining the stability of India’s external sector.

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