Service sector's fate hinges on Doha talks

India's service sector may see a big hit in case the WTO's Doha round of trade negotiations fails, a Commerce Ministry official said.

In turn, the country could be a major beneficiary from greater market access in services unlike other developing nations, said a paper titled "Strategy for India's Services Sector: Broad Contours" prepared by H A C Prasad, Senior Economic Advisor in the ministry.

India is Asia's third largest economy with a size of nearly $1 trillion. Services contribute about 61% of GDP and the sector is growing at double-digit rates.