Wednesday, July 2, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Economy

Prabhu list out strategy for exporting services

Fiinews by Fiinews
December 20, 2017
in Economy, Exports, Investment, Manufacturing
Reading Time: 2 mins read
A A
0
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Minister calls on industry to identify markets

 

A strategy to boost the share of services in the export basket of the country is being formulated, said Commerce and Industry Suresh Prabhu at the Services Conclave: “Serve India and the World”.

Services exports has the potential to rise faster than goods exports, he pointed out.

The Minister called on the Indian Industry to identify the markets that they wanted to export to and the Department of Commerce would work on Market Access issues there.

Prabhu was of the view that “we needed to identify new services which had tremendous export potential e.g. healthcare and financial services and within that develop new products which could be exported”.

He suggested that sectors such as IT should look at developing newer markets such as Latin America as markets such as US and Europe were becoming saturated.

He stated that with manufacturing becoming increasingly automated, it was services that would lead the country in terms of employment generation.

He pointed out that even manufacturing had a services component to it.

The Conclave was organized by the Confederation of Indian Industry (CII) in cooperation with the Department of Commerce, Ministry of Commerce and Industry and the Services Export Promotion Council (SEPC) in New Delhi on 19 Dec 2017.

According to Uday Kotak, Vice President, CII and Chairman, CII National Council on Services, the services sector contributed 60% of India’s GDP, 30% of India’s exports and just 30% of India’s jobs.

He was of the view that measures need to be taken to step up the share of jobs to 40%.

He felt that the service sector become the “job creation engine” for the Indian economy.

Highlighting some of the sectors which had the greatest potential for exports, he called for greater focus on sectors such as Health and Wellness, Tourism, Education, Media and Entertainment and Leisure among others.

He pointed out that India’s share of global tourist arrivals was miniscule and measures needed to be taken to reverse this trend.

Vivek Nair, Chairman, SEPC, added that the service sector was a major source of foreign exchange earnings and it had tremendous potential for growth.

While the sector accounted for 60% of India’s GDP, it lagged behind manufacturing in terms of exports – which he felt needed to be corrected.

He highlighted the sector’s potential to be a major source of employment generation in the country. fii-news.com

Tags: Commerce and Industry MinisterConfederation of Indian IndustrySuresh Prabhu
ShareTweetShare

Related Posts

Ministry of Textile
Exports

Export: Govt to facilitate easy trade environment

by Fiinews
July 2, 2025
0
14

Manufacturers urged to ramp up production Commerce and Industry Minister Piyush Goyal has reaffirmed the Government’s commitment to create a...

Ericsson
Manufacturing

Manufacturing: India benefits form global partners

by Fiinews
July 2, 2025
0
16

Ericsson, Apple, Google and Qualcomm contribute beyond investments Minister of Communications Jyotiraditya M. Scindia has underlined the transformative impact of...

Greenzo Energy

Manufacturing: Greenzo to invest in electrolyser

July 1, 2025
14
RRP S4E

Manufacturing: India to get Bulgarian technology

July 1, 2025
15
Ohmium

Manufacturing: Partnership for hydrogen solutions

June 29, 2025
13
PIB

Invest: PSBs told to strengthen credit to MSMEs

June 29, 2025
15
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tender: Upgrade of Paramakudi-Ramanathapuram
  • Market: Minister discusses opportunities in Dubai
  • Tech: Military-grade integrity for digital space
  • Tech: SatSure-Dhruva Space to work on value chain
  • Tech: WaveX invites startups to create AI-solution

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.