Growth in global trade has helped reduce abject poverty around the world very significantly. Rising protectionism since 2008 has led to a drop in global trade as a percentage of global GDP and threatens efforts in poverty alleviation. Growing tensions in Europe and the Middle East are not helping. The potential for growth in trade in services is a silver lining. Despite 63% of global GDP comprising of services, only 21% of global trade is in services. Can services trade be the answer to economic growth and progress across the world and what specific lessons do this hold for India? Shrikrishna Upadhyaya deliberates all this with Sridhar Krishna.
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