Issue Details
ISSUES AND CHALLENGES IN INDIA’S TRADE IN SERVICES
Mrs. Anju Chawla
Page No. : 107-112
ABSTRACT
India is a country with global interests and a powerhouse in the services sectors. The current international environment is challenging for India. India has a remarkable journey in the last seven decades. The terms "services" and "invisible" are used frequently. A lot of people use the phrase "invisible" when discussing the balance of payments, and the term "services" when discussing the economy as a whole. "Services" basically means immateriality, non-storability, consumption, and production all occurring at the same time. Aside from products, all of the key items of the Current Account account are considered invisible. Merchandise, on the other hand, is intangible; you can not physically touch it. They are invisible and imperceptible to the human eye and touch. Education, insurance, medical treatment, consultancy and accountancy are all examples of intangible trade. The combination of a diagnosis and the administration of a medicine, for example, can make it difficult to distinguish between a service and a sale in products. It is the goal of this research to analyse the trade in services from India between 2000-01 and 2019-2020, which is a span of 20 years. Only non-factor services are included in the study. The research looks at the significant patterns that have emerged over the last few years and predicts how they will change over the next few years.
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