This chart plots the trend line for Trade in Services as a percent of GDP. Trade in Services includes both imports and exports. The data is from the World Bank’s excellent databank.
Till the mid 90s India’s Trade in Services was growing at about the same pace as the rest of the world. Then suddenly it took off. We know why that happened.
That is a structural shift in the composition of Indian trade, BoP and GDP itself. And the Offshore services sector is still growing.
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