Incentive schemes for specific sectors needed to boost exports
Indian exporters want to seek better market access through the ongoing Free Trade Agreement (FTA) negotiations, branding of services sectors and addressing of regulatory bottlenecks.
The exporters also called for setting of standards, having a robust mechanism for reporting of data related to services and skilling of manpower.
The exporters told Commerce Secretary B.V.R. Subrahmanyam the need for incentive schemes for specific sectors, in order to boost exports.
These calls were made during a one-day brainstorming session held on 31 Aug 2022 with the Commerce Ministry.
Responding, Subrahmanyam assured that the Government would extend support to realise the full potential of exporting service sectors and remove any constraints faced by exporters.
He underlined the importance of services sector as a key driver of country’s economic growth.
Participants at the session discussed challenges, opportunities and way forward for boosting services exports from India.
The session was organized by Department of Commerce in partnership with Services Export Promotion Council (SEPC) and was attended by about 100 participants representing various service sectors including Information Technology & Information Technology Enabled Services, Communication Services, Entertainment, Audio Visual Services, Tourism & Hospitality, Medical Value Travel, Education Services, Accounting and Finance Services, Financial Services, Legal Services, Transport & Logistics Services, Construction and Related Engineering Services and Environment Services.
Four parallel breakout sessions on sectoral basis were organized to deliberate upon service sectors related issues.
These groups included; Group 1: Information Technology & Information Enabled Services, Communication Services & Entertainment (including Audio Visual Services), Group 2: Tourism & Hospitality Services, Medical Value Travel & Education Services, Group 3: Accounting and Finance Services, Financial Services & Legal Services, Group 4: Transport & Logistics Services, Construction & Related Engineering Services & Environment Services. fiinews.com
