World trade in services: An overview

In the past few years, service sector has become the most important and dynamic sectors in most of the countries. The basic nature of services has changed with time. Once considered untradeable, technology has made the services tradable. This paper is an attempt to get an overview of the growth of service sector and trade in services globally with special reference to India. Regional distribution of trade is also looked into. All the data point to the fact that India is positioned to grow in this sector but for that she will have to identify strategies to create, develop and strengthen India's comparative advantage in specific services in the light of current WTO provisions.