10.8 ndian onom
of vital importance to India. Some of the recent information for cross-border supply of services.
negotiations8 are as given below. World Bank data shows the growing share of
services in the world economy, the sources said,
Wto negotiAtions adding, however, that global trade flows in
Though, the 11th Ministerial Conference services remain subject to numerous border and
(MC) of the WTO ended without a Ministerial behind-the-border barriers (Ministry of Commerce
Declaration or any substantive outcome, India and Industry).
saw certain favourable outcome from the 10th
MC of the multi-lateral trade body (Economic bilAterAl Agreements
Survey 2017-18): The bilateral agreements signed by India in recent
(i) Implementation of preferential treatment times are:
in favour of services and service suppliers (i) Comprehensive bilateral trade agreements
of least developed countries (LDC) and signed, including trade in services, with
increasing LDC participation in services the governments of Singapore, South
trade; Korea, Japan and Malaysia. An FTA in
(ii) To maintain the current practice of not services and investment was signed with
imposing customs duties on electronic the Association of South East Asian
transmissions (e-Commerce) until the Nations (ASEAN) effective since mid-
next Ministerial Conference to be held in 2015.
(ii) India has joined the RCEP (Regional
(iii) India, together with 20 other members Comprehensive Economic Partnership)
have notified preferential treatment to pluri- lateral negotiations. The proposed
LDCs in services trade. India has offered FTA includes the 10 ASEAN countries
this in respect of: and its six FTA partners, viz. Australia,
(a) Market access China, India, Japan, South Korea and
(b) Technical assistance and capacity New Zealand. The RCEP is the only
building; and mega-regional FTA of which India is a
(c) Waiver of visa fees for LDC applicants part.
for business and employment. (iii) India is also engaged in bilateral FTA
Before the 11th MC of the WTO India made negotiations including trade in services
a presentation a proposal to the WTO for a global with Canada, Israel, Thailand, the
pact to boost services trade. The proposal—Trade EU, the EFTA (European Free Trade
Facilitation in Services (TFS)—is mainly aimed at Association), Australia and New Zealand.
‘ensuring’—easier norms for movement of foreign Dialogue is under way with the US under
skilled workers/professionals across borders for the India-US Trade Policy Forum (TPF),
short-term work; portability of social security with Australia under the India-Australia
contributions; reasonable fees for immigration; JMC (Joint Ministerial Commission),
cross-border insurance coverage; boosting medical with China under the India-China
tourism; and publication availability of relevant Working-Group on Services, and with
8. Economic Survey 2017-18, Vol. 2 & Economic Survey Brazil under the India-Brazil Trade
2016-17, Vol. 2, Ministry of Finance, GoI, N. Delhi. Monitoring Mechanism (TMM).