Service exports ease to $12.6 billion, imports fall 12% in January: RBI

India's service exports in January declined to $12.57 billion from a year earlier whereas imports shrank to $6.84 billion, RBI said on Tuesday.

In percentage terms, service exports were down 11.77% and imports 12.16%, respectively. For April-January of this fiscal, the exports came in at a cumulative $129.91 billion while the imports stood at $70.62 billion.

Services contribute about 55-60% of India's GDP and attract high foreign inflows.