| India has filed its revised offer on services with the World Trade Organisation (WTO).
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| Commitments were offered in a number of new sub sectors in Mode 3 including architectural, integrated engineering and urban planning and landscape services, veterinary services, parts of distribution services, (excluding retail trade), an official release said.
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| New commitments were also offered in cross border supply in other business services, professional services, research and development services, rental and leasing services, real estate services etc.
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| At the same time, improvements were made in the existing Mode 3 commitments by enhancing the foreign equity limit in engineering services, computer and related services (commitments have been proposed at the two digit level), research and development services, basic telecommunications , value added telecommunications , construction and related engineering services etc.
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| In the banking services, wholly-owned subsidiaries have been allowed as a legal entity while in the case of non-banking financial activities, the foreign equity limits have been enhanced in the case of factoring, venture capital and financial leasing, the release added.
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| India had already made a substantial Mode 4 offer in its initial offer by including all the categories of natural persons it had presented multilaterally till date like contractual service suppliers and independent professionals.
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| Further improvements were also made in the sectoral coverage of both the contractual service suppliers and independent professionals.
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| The definition and parameters of these categories were brought in line with the common categories paper floated multilaterally by a large number of developing and developed countries. |
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