Within the global economy, the significance of trade in services is hard to ignore. In 2005, world trade in commercial services measured a balance of payments basis, accounted for approximately one-fifth of total global exports (US $ 10.0 trillion). Consequently, trade in commercial services are currently valued at more than US$ 2.50 trillion worldwide.

However, commercial potential extends significantly beyond simple cross-border flows of services. It is estimated that trade in services through commercial presence could be at least as large as cross-border trade - that means that the balance of payment figures may only account for approximately 60 percent of the world's economic output, or more than US$ 14 trillion in economic activity which could be within the reach of international competition.

As per statistical approximation of the WTO, service supplies in various modes, including, cross-border supply, consumption abroad, commercial presence and movement of natural persons, account for 35 percent, 10-15 percent, 50 percent and 1-2 percent respectively of the total commercial services flows in the world.

Trade in services in India though not new, is relatively unorganized. Quality service providers, at par with international standards are few, considering the huge amount of potential available. The demand for service providers from India is increasing and countries including the US and those in Europe are increasingly relying on Indians. Firms in the service sector, both large and SMEs are most likely to be engaged in exports than their goods producing counterparts.

Service trading has experienced a steady and continuous growth in the past decade as a consequence of the growth in international markets and the emergence of new fields of practice, particularly in the area of E-trading. The fact that there are tens of thousands service providers with tradeindia.com, speaks volume about this emerging sector.

The service industries already play an important role in the Indian economy and are growing faster than other components of India's Gross Domestic Product (GDP). Services account for 54.1 percent of GDP of India in 2005-06, is a sector of critical interest in India. India's services exports grew by 22.6 percent from US$ 17.5 billion in 2000-01 to US 39.6 billion in 2004-05. In 2004-05, India was ranked 16th in both as a service exporter and importer of the world trade in services.

There are several ways in which service providers can use the Internet to help in building their global credibility.

Firstly, the firm needs to be registered in any online directories that exist for its respective service. Some of these directories are standalone sites; others are embedded in broader B2B e-market sites. Potential customers use these sites both to search for service suppliers and to verify that new suppliers are legitimate. You can visit tradeindia.com's Service Providers' section for details.

Secondly, be proactive. Take up a topic and discuss with other online service providers of the B2B e-market website(s) you are registered with. You can send your views and share the latest developments in the sector with Tradeindia. This will not only increase your visibility, but also give you an added mileage over the others.

Thirdly, you should participate in online discussion groups that allow you to build global networks and become viewed as an expert in your field. Many of the B2B e-marketplaces have such discussion boards or chat rooms.

Last but not least, your online activities need to be focused primarily on heightening your credibility. For example, you might wish to submit short articles to your industry’s B2B e-marketplaces or participate as an expert or audience in webinars or online conferences.

In light of the increasing trade-ability of services and the growing importance of the service industries to the economy, the prospects for more rapid growth in services trade are excellent. India clearly has the necessary expertise and capabilities to succeed in selling its services in rapidly growing international markets.