Define the term 'Services' and 'Service Provider' under Foreign Trade Policy and Procedure.
CS Executive · Economic, Business and Commercial Laws · PYQS · June 2024
Define the term 'Services' and 'Service Provider' under Foreign Trade Policy and Procedure.
Answer & Explanation:
According to the Foreign Trade Policy, "Services include all tradable services covered under General Agreement on Trade in Services (GATS) and earning free foreign exchange. "Service Provider" means a person providing: Supply of a 'service' from India to any other country; (Mode I-Cross border trade) Supply of a 'service' from India to service consumer(s) of any other country; (Mode 2-Consumption abroad) Supply of a 'service' from India through commercial presence in any other country. (Mode 3-Commercial Presence.) Supply of a 'service' from India through the presence of natural persons in any other country (Mode 4- Presence of natural persons.)
Topics: Foreign Trade Policy and Procedure
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