We must acknowledge that India cannot replicate the export orientation of the East Asian manufacturing story, or even Bangladesh. The services story will have to compensate for this, writes T N Ninan
The services exports (receipts) in September 2019 stood at $17.54 billion
While both have seen a drop in external trade in relation to GDP, the reasons are quite different - in China it is in part a problem of success, in India it points more to failure, writes T N Ninan
The exports stood at 17.73 billion in February.
Surplus in trade services stood at $7.45 billion for December
The government had unveiled big plans for the services sector last year
Services exports, or receipts from such services, were of order of $13.43 billion in May 2016
Some banks refuse to give FIRC to exporters of services saying FEDAI restrains them from doing so