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EconomicsVolume 2: India and the International Economy$
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Jayati Ghosh

Print publication date: 2015

Print ISBN-13: 9780199458943

Published to Oxford Scholarship Online: September 2016

DOI: 10.1093/acprof:oso/9780199458943.001.0001

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Trade in Services and the Indian Economy

Trade in Services and the Indian Economy

(p.112) 4 Trade in Services and the Indian Economy

Rupa Chanda

Oxford University Press

Services have been a growth driver in the Indian economy in the post-1991 period. Their share in India’s GDP has grown considerably. They have played an important role in India’s integration with world markets through trade and investment flows. This chapter outlines the trends in India’s service sector output, trade and foreign direct investment (FDI) as well as its opportunities and constraints in services. It discusses the nature of India’s services liberalization and reforms and the associated concerns and challenges, the latest state of play in selected services, and the outcome of reforms in various services. It also discusses India’s negotiating stance in services in multilateral and preferential trade agreements to highlight its interests and sensitivities in this sector. The discussion concludes by highlighting the need for more broad-based growth in the service sector, with increased linkages to the rest of the economy for a services-led growth pattern to be sustainable.

Keywords:   services, liberalization, reforms, regulation, trade, foreign direct investment, competitiveness, multilateral, regional, growth

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