India must look beyond tech sector in trade pacts
- Published: 11 Mar 2013 at 10.18
- Newspaper section: Asia focus
India will need to jump beyond its existing strength in information technology if it wants to take full advantage of free trade agreements with Asian countries such as Thailand, according to a recent study.
With India looking to grow at seven to eight percent a year, it will be important to build strength in services sector such as infrastructure which will complement manufacturing services, according to the study titled “Integrating South and East Asia: The Case of Liberalising Services between India and Thailand.”
To make the trade negiotiations more meaningful, India also needs to strengthen areas such as tourism and medical services where it can look at building a services value chain across Asia, said the study conducted by the Indian Council for Research on International Economic Relations (ICRIER) and the Asian Development Bank (ADB).
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