India’s service sector: a mid-year review of performance and outlook

Abstract

Although the service sector has been a driver of growth, many regulatory and policy bottlenecks remain. There is a need to move beyond the IT and business services-led paradigm and focus on developing services that are better integrated with the rest of the economy through backward and forward linkages. Complementary regulatory frameworks and domestic reforms also need to be put in place to support liberalisation in various services. In the context of FTA negotiations, India needs to pursue its interests in services by pushing for greater market access for its service providers. from partner countries.