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Business activity in India’s services sector softened in April but remained near its highest level in just under 14 years. However, some signs of weakness are emerging amid concerns that interest rates will stay higher for longer.
Reserve Bank of India (RBI) has released the data related to the 2019-20 round of its annual survey on exports of computer software and information technology enabled services. For the 2019-20 round of the survey, 6078 software export companies were contacted, of which 1475 companies responded, which included most of the large companies. The responding companies accounted for around 82.7% of the total software services exports during the year. India's export of software services stood at US$ 128.6 billion during 2019-20, registering 9.1% growth over the previous year. Exports of computer serv...