Thus, the Indian current account exhibits only a small deficit, or a surplus, despite the existence of merchandise trade deficit that has grown from 3.2 per cent of GDP in the mid 1990s to 5.3 per cent in 2004-05. On the capital account, unlike other emerging markets, portfolio flows have far exceeded foreign direct investment in India in recent years.
From the business perspective, the M-Commerce encompasses technologies, applications and services that involve several stakeholders like infrastructure equipment vendors, software vendors, content providers (including advertisers), content aggregators, Mobile Network Operators, mobile device manufacturers and of course financial institutions.