However, behind higher software service revenue and remittance B in the September 2024 quarter, it sequentially moderated from $16.7 billion (1.8% of GDP).
Net service revenue in the December 2024 quarter increased to $51.2 billion from $45 billion a year ago. Service exports have risen on the basis of large categories such as commercial services, computer software services, transportation services and travel services. In the latest quarter, net software service revenue, which accounted for more than half of service revenue, rose to $39.6 billion from $36.3 billion a year ago.
Individual transfer receipts, mainly representing the remittances employed by Indians overseas, rose to $35.1 billion in the latest quarter from $300.6 billion a year ago to $35.1 billion.
“ICRA expects current account to earn $400 million to $600 million in the fourth quarter of 2025 surplus, aided by the seasonal rise in commodity exports, as well as the trade deficits in trade services and poor health services,” Aditi Nayar, chief economist and Head -Resebine & Head -Resebly -Resebine & Head -Resection & Head -the -Health Service Difference. “Overall, we expect CAD’s GDP to account for 0.8% of GDP in fiscal 2025.”
In the financial account, the net outflow of FDI in the third quarter of 2024-25 was US$2.8 billion, while the inflow in the corresponding period of 2023-24 was US$4 billion. ForeignPortfolio Investment also recorded a net traffic of $11.4 billion in Q3’2024-25 as a violation of $1.2 billion in Q3.0Bill In Q3.2023-24. Net inflows under external commercial lending were $4.3 billion, and outflows in the corresponding period a year ago were $2.7 billion. Non-end-endend of residents’ deposit records was $3.1 billion, down from $3.9 billion a year ago.
Overall, foreign exchange reserves fell by $37.7 billion in the latest quarter, while in the first quarter: $6 billion accumulated in 2023-24.
