Commerce secretary Rajeev Kher today said as India is primarily a services sector-based economy, the country's foreign trade policy should be incentive-based.
"India's services sector is very strong. In this context, the country's foreign trade policy should be incentive-based," Kher said at an interactive session organised by the CII here.
Kher said that for this, the trade policy should have new instruments.
He also said there would be an agreement on services in the WTO.
"India should look at this with great interest. Because joining at a later date will cost a huge price when the agreement is concluded," he said.
The official also made a pitch for a composite exports of merchandise and services.
"There is a case for compositeness in exports. For this, sound trade finance patterns are required," he stated.
He also warned exporters that market barriers might emerge if the exporters failed to adhere to high standards of quality of exports.
