India's services exports surge 12%, imports rise 5% in June 2025: RBI data.

India's services exports rose 12% to $32.11 billion in June 2025, while imports increased 5% to $15.90 billion. The growth in exports follows a consistent trend observed over previous months, with IT, business, and financial services driving the backbone of the country's export earnings. On the imports side, the pace of increase accelerated in June, indicating a rebound in demand for foreign professional and technical services.

India's services exports experienced a robust 12% increase in June 2025, reaching USD 32.11 billion, according to data released by the Reserve Bank of India (RBI). This growth was primarily driven by the thriving IT, business, and financial services sectors, which form the backbone of the country's export earnings [1]. Meanwhile, imports also witnessed a 5% rise, reaching USD 15.90 billion, indicating a rebound in demand for foreign professional and technical services [1].

The export growth in June 2025 follows a consistent trend observed over previous months. In April and May 2025, services exports were recorded at USD 32.84 billion and USD 32.45 billion, registering growth rates of 8.8% and 9.6%, respectively [1]. This sustained momentum underscores the resilience and strength of India's services sector.

On the imports side, the pace of increase accelerated in June, rising by 5.0% compared to a 1.1% fall in May 2025. This suggests a possible rebound in demand for foreign professional and technical services, which are crucial for India's economic growth [1].

The RBI's data also revealed a broad-based moderation in credit expansion across key sectors of the economy. Non-food credit growth slowed to 10.2%, down from 13.8% the previous year [1]. While credit to the agriculture and allied activities sector grew by 6.8%, it marked a sharp slowdown compared to 17.4% growth in the same period last year. Similarly, credit to the industrial sector rose by 5.5%, down from 7.7% the previous year [1].

The services sector saw credit growth moderate to 9.6% from 15.1% last year, primarily driven by slower credit expansion to non-banking financial companies (NBFCs) [1]. However, segments like computer software and professional services continued to post robust growth.

In a separate development, the US President Donald Trump's decision to impose 25% tariffs on goods imported from India could pose a headwind to India's GDP growth [2]. Experts say further details on the fine print of the penalty will be crucial to determine the actual economic impact. The tariffs, along with additional penalties, could directly affect key sectors such as marine products, pharmaceuticals, textiles, leather, and automobiles [2].

India's opposition Congress party mounted a scathing attack on the government following the announcement, highlighting the political and economic implications of the tariffs. Despite the growing tensions, negotiations between India and the US are likely to continue through [2].

References:
[1] https://m.economictimes.com/news/economy/foreign-trade/indias-services-exports-rise-12-in-june-2025-imports-5-rbi/articleshow/123039448.cms
[2] https://www.bbc.com/news/articles/c0j91p8w20vo