In contrast, India’s expansion may well prove to Indian competition, their ability to
much more balanced: mobilize political opinion might also be
India has tended to run a current account greater.24
deficit, rather than a surplus; and
Precisely speaking, the political backlash
while its service exports might also
against globalisation in advanced countries, and
displace workers in advanced countries,
their skill set will make relocation to other China’s difficulties in rebalancing its economy,
service activities easier; indeed, they may could have major implications for India. And it
well simply move on to complementary will be advisable for India to close track of the
tasks, such as more advanced computer changing global dynamics.
programming in the IT sector itself.
24. Based on the discussion given in the Economic Survey
on the other hand, since skilled labour 2016-17, Government of India, Ministry of Finance,
in advanced economies will be exposed N. Delhi, Vol. 1, pp. 6-9.