Macroeconomic data shows a lack of improvement in the incremental capital-output ratio along with diminishing total factor productivity in India's services sector--surely a warning. If far-reaching measures are not taken, India may soon be unable to compete in the global market in this area.
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EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.