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How ‘Make in India’ can get a boost with open services trade with others, even against all odds

Modernization of India’s regulations affecting services trade would contribute to the success of the Make in India initiative despite restrictions in its exports in partner markets

The restrictions are having a negative impact, on manufacturing and more widely on income, as per reports. India would be the single largest beneficiary of a multilateral cut in services trade restrictions. Findings in the report suggest that modernization of India’s regulations affecting services trade would contribute to the success of the Make in India initiative despite restrictions in its exports in partner markets.

Meanwhile, India’s services sector activity returned to growth in November, after two months of decline.

Raising more tax revenue by removing the tax expenditures, freezing nominal personal income tax brackets and improving compliance, improving transparency on off-budget transactions and contingent liabilities, reducing the spread between administered rates on small savings and market rates to improve monetary policy transmission, and harmonizing legislation on public procurement across the government are among the other recommendations from the OECD.

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