INDIA'S POSITION IN THE GLOBAL EXPORT OF SERVICES
trade in services Keywords:, export of services, import of services, India, South Asia N. V. GALISHCHEVA Candidate of Economic Sciences MGIMO (U) of the Russian Foreign Ministry Technological changes, increasing labor mobility, lower transport and communication costs, and the growth of global trade in goods have contributed to the accelerated development of trade in services. Between 1999 and 2011, the volume of world trade in services increased almost 3-fold , from $1.45 trillion to $4.17 trillion.1 The world economy of the late XX - early XXI centuries has largely turned into a service economy. According to data for 2011, the volume of world trade in services reached 1 / 4 of trade in goods 2. At the same time, according to Indian economist Suparna Karmakar, "the revolution in the service sector around the world has changed both the geographical map of business and the very ways of doing it."3 One of the most characteristic features of India's economic development since the early 1990s has been a significant increase in its foreign trade in services, which is primarily due to the rapid development of information and communication technologies (ICTs). Software (software) production, business process outsourcing, e-commerce (e-commerce), and telecommunications sectors in India grew at unprecedented rates in the 1990s and 2000s, exceeding 50% in some years and consistently outpacing the growth in trade in goods. THE "SERVED FROM INDIA" BRAND In 2004, the Indian Government, emphasizing the importance of the country's participation in international trade in services, outlined the main directions of development of trade in services in the Foreign Trade Policy of 2004-2009 (Foreign Trade Policy 2004-2009). So, in particular, the task was to consolidate the unique brand "Served from India" on the world market by analogy with the brand "Made in India" (Made in India). In addition, along with the introduction of schemes to assist Indian service providers abroad, a special S ... Read more
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Delhi, India
12.01.2024 (98 days ago)
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