General Agreement on Trade in Services (GATS) of WTO has ordered exchange administrations into

four methods of administrations supply: Mode 1, cross-line exchange by means of the web; Mode 2,
utilization abroad; Mode 3, business presence; Mode 4, transitory development of normal people.

Figure 1 more clearly illustrates the four modes of services supply under GATS from the
perspective of exporting and importing countries. It is evident that out of the four modes,
Modes 2 and 4 generally require movement of humans and proximity between the service
provider and consumer.

As the pandemic has to a great extent incapacitated administrations supply by means of Modes 2
and 4 and in some way Mode 3 too because of the impermanent conclusion of firms working in the
unfamiliar business sectors, higher offer in Mode 1 or advanced administrations shows similar
benefit for India. Indeed, the emergency is driving towards a more noteworthy spotlight on internet
based administrations and expanded administrations exchange through Mode 1 . Considering this
and expecting a steady interest for India's Mode 1 administrations in the unfamiliar business sectors,
over half of administrations trades from India can in any case be thought of as on a more secure
side, which might proceed with activities through virtual space.

COVID-19’s direct impact on India’s industries

China being the underlying focal point of the flare-up, caused a worldwide log jam. It is assessed that
a decrease of 2% in China's products in 2020 will prompt a USD 50 billion decrease in trades in
worldwide worth chains. China is India's driving import objective with imports esteemed at USD 68.1
billion out of 2019, representing a portion of 14.2 percent in India's all out imports from the world.
UNCTAD gauges that the overflow impacts of the disturbance in Chinese supplies could cost India's
commodities around USD 348 million, with the most affected areas being synthetics, materials and
clothing, auto, and metals and metal items. The synthetic substances area is assessed to be affected
by USD 129 million, trailed by materials and apparel with a USD 64 million decrease.

Figure 2: India’s imports from China and impact on sectors exports (2019

COVID-19’s direct impact on India’s exports

China is likewise India's third-biggest commodity objective, with a portion of 5.3 percent of India's
products. India's imports from China are made out of Capital Goods (52%), Intermediate Goods
(32%), Consumer products (14%), and natural substances (a little more than 1%). The interruption in
the Indo-China supply chains could influence halfway merchandise in India's assembling processes in
the short-run, nonetheless, it will be the disturbance in the import of capital products, that could
make store network interruptions in the Indian market, as hardware substitutions and new
innovation are upset, along these lines influencing efficiency over the long haul.
Figure 3-Potential impact of COVID-19 on trade

EMERGING OPPORTUNITIES AND CHALLENGES

We realize that the pandemic has briefly ended administrations that require actual closeness; it has
additionally opened the entryways for some, administrations delivered through computerized
networks and the web. Some way or another it has accurately pushed what has been named 'The
third unbundling' or 'Globalization 4.0' by Richard Baldwin as a type of globalization that basically
influences the administrations area by changing the way the way in which administrations are
executed . Exchange advanced administrations that have been developing a lot quicker than the
exchange merchandise as of late have arisen, assuming a more significant part in these seasons of
the COVID-19 pandemic. Carefully empowered administrations fit for online conveyance are the
most un-impacted by the pandemic and are likewise expected to develop a lot quicker because of
the changing worldwide business situation.

Demand for several other services capable of delivering through electronic and digital networks has
surged during the outbreak. Services such as telehealth, online education, digital entertainment and
remote working, which were not given much relevance earlier, have now become the lifeline of
businesses.For example, Zoom, a US-based video-conferencing stage for training and business
conferencing, has turned into an overall sensation in a couple of days with its fairly estimated worth
coming to $59 billion. Essentially, advanced amusement stages like Netflix, Amazon Prime and
Hotstar have seen an astounding leap in their enrollment memberships. Netflix alone has 15.8
million paid supporters during the main quarter of 2020, with worldwide exchange incomes arriving
at 182.9 million. Colleges and universities across the globe have effectively exchanged or considering
picking distant semesters because of the vulnerability of the circumstance. In accordance with this,
few famous scholarly foundations are including an ever increasing number of inventive seminars on
internet based schooling stages like Coursera and Edx to advance quality and economical training
across borders through computerized implies. Telemedicine or distant medical care has arisen as the
guardian angel of millions of lives across the globe. As indicated by a new report by Frost and
Sullivan, the interest for telehealth administrations has significantly expanded. It will continue to
ascend in the approaching time frame as COVID-19 keeps on disturbing the conveyance of medical
care benefits around the world. Alone in the United States, it is projected to develop by 64.3% in
2020 (Clara, 2020). This large number of administrations are of enormous product potential for
India. With worldwide famous and profoundly gifted medical services experts on the planet,
telehealth and online clinical meeting have a superb chance for India to rehash through its virtual
medical services presence. As the inbound clinical the travel industry area may now take more time
to recuperate, the new telemedicine rules delivered by the Ministry of Health and Family Welfare is
a significant extensive advance towards assistance of medical care administrations sends out from
India.

In setting to schooling administrations, India is the second-biggest wellspring of worldwide

understudies abroad with almost 10.9 lakhs understudies enlisted as of July 2019, as indicated by
the Ministry of External Affairs, India. As the pandemic circumstance is as yet unfurling and the cases
are continually on the ascent, global confirmations and understudies' portability would be essentially
impacted basically for the enrolments in 2021. It fills in as an astounding an open door for Indian
instructive establishments to change Indian advanced education with a more extensive spotlight on
e-learning and refreshed teaching method matching worldwide principles as a drawn out system to
draw in more global understudies. It is about time for head Indian advanced education
establishments to zero in on significant worldwide coordinated efforts for offering inventive courses
together through e-learning. However long the immunization isn't accessible for mass sending,
worldwide joint effort for imaginative and redid online advanced education programs offer massive
potential for India. Indeed, even after the antibody is accessible, we don't know whether the
computerized changes purchased by the pandemic may probably become fate of the new globalized
period, because of long haul shifts towards online administrations. Changing to electronic stages has
now become fundamental for food of the organizations today and in the times to come.

Alongside more up to date open doors in the advanced space, the pandemic has likewise raised
different computerized approach difficulties for nations connected with online stock of
administrations. Network safety and information insurance have turned into a main pressing issue
because of the absence of secure foundation while working from a distance, particularly in the areas
like money, bookkeeping and basic business processes that requires safer IT framework. As per the
NTT Global Managed Services Report 2020, the COVID-19 emergency will supplant conventional
obtaining by brilliant obtaining with more spotlight on information security. The report likewise
refers to information security in a work-from-home situation as a central issue for organizations
prior to re-appropriating work to different nations. This is one reason why nations like the UK are
intending to lessen their reliance on rethinking by opening more call places in the country. Since the
UK is one of the significant business sectors for Indian IT and BPO administrations, drives like this
might have long haul suggestions on trades from India.
Given the developing significance of Mode 1 administrations, the issue of individual information
security and the tough information insurance regulations including information limitation is likewise
raised by a few WTO individuals in the new gathering of the Council for Trade-in Services (WTO,
2020d). Homegrown regulations on information security and confinement are significant difficulties
for India right now on the grounds that the rules for individual information insurance are as yet
being created, and the current regulations are not quite as developed when contrasted with the
worldwide principles like EU-General Data Protection Regulation (GDPR). Global Telemedicine
likewise has a few moves for the medical services experts because of various public guidelines and
different medical services approaches. Worldwide collaboration at the legislative level is expected to
plan feasible standards on the cross-line online stock of medical care administrations.