India and Trade Facilitation in Services (TFS) Agreement: Concerns and Way Forward
Mukherjee, Arpita; Kapoor, Avantika | October 2017
Abstract
Services are a major component of global gross domestic product and employment, and a rising component of global trade and investment flows. This is the largest sector of the Indian economy contributing significantly to economic growth and foreign investment flows. India is among the top ten World Trade Organization member countries in trade in services, and the country has a positive trade balance in services. However, global trade in services faces a number of barriers at the border and behind the border, which makes it difficult for service providers from developing countries such as India to access key markets in their preferred modes of services trade. Given this background, this paper examines how trade in services can be liberalised within the WTO framework. It presents some of the recent estimates of trade costs related to barriers to trade in services, and examines why it is difficult to measure trade facilitation in services. It then examines India’s proposal on Trade Facilitation in Services (TFS), highlighting the benefits, gaps in the proposal, issues and way forward. The paper is based on secondary information analysis, and discussion with policymakers and experts from India and abroad.
Citation
Mukherjee, Arpita; Kapoor, Avantika. 2017. India and Trade Facilitation in Services (TFS) Agreement: Concerns and Way Forward. © Indian Council for Research on International Economic Relations. http://hdl.handle.net/11540/7651.Keywords
Taxation
Business Financing
Investment Requirements
Capital Needs
Tax Incentives
Project Risks
Tariff agreements
Customs convetions
Import policy
Export policy
Trade Finance
Risk Financing
Regional Development Finance
Public Finance
Infrastructure Financing
Financing of Infrastructure
Financial Security
Financial Intermediation
Finance And Trade
Enterprise Financing
Trade Regulation
Trade Finance
Regional Trade Agreements
General Agreement On Tariffs And Trade
Foreign and Domestic Financing
Investments
Finance
Market
Markets
Use tax
Tax administration and procedure
Taxing power
Effect of taxation
Business enterprises
Foreign trade and employment
Mentoring in business
Trade routes
Bills of exchange
Swaps
Show allCollapse