Updated on March 20, 2023
Invisible trade refers to the international trade in intangible assets i.e., trade in services. As the services involved are intangible, this type of trade is known as invisible trade.
This type of trade includes international trade in travel, tourism, entertainment, recreation, transportation, professional services, consultancy services, banking services, educational or financial services, etc. This invisible trade in India has been significantly growing in the past years. The major contributor to this type of trade from India is the software and miscellaneous services exported by the country along with medical tourism. The proceeds from these invisible trades have the potential to balance the trade deficit which is one of the biggest concerns faced by the country.