The government has to first form a ?special negotiating team for services? to give a new direction to the country?s strategy for the ongoing negotiations of the World Trade Organisation (WTO) on services, says a finance ministry study. The government should also assess the impact of WTO negotiations in increasing market access for different services to Indian companies.
An analysis had to be made on the export potential in different services in the near and medium term, the study said.
The study said there was a need for direct involvement of trade specialists in the Indian team during WTO negotiations. The negotiating team for services should have consultations with state government on issues related to services standards and regulations. Referring to the lack of a proper data on services, the study said with WTO talks in 151 services, ?negotiators need statistics to negotiate specific commitments in services taking note of India?s export potential?.
?Leave alone price data, even disaggregate value data, sector wise and country wise are not available,? the study rued. Among the top 10 exporters of commercial services in the world in 2006, India had the highest growth rate of 34%, followed by China with 18%.
The study pointed out that a lot of work needed to be done in the balance of payments data.
