Government assures support to services exporters to realise full potential

The government on Wednesday assured services exporters that necessary support will be extended to remove constraints and realise the full potential of the sector.

The issues of the sector were discussed during a day-long session on services exports, which was organised by the Department of Commerce.

Some of the key suggestions that were highlighted include seeking better market access in free trade pacts, branding, promotion through road shows, standard setting, robust mechanism for reporting of data, skilling and addressing regulatory bottlenecks.

TRENDING NOW

Top-5 mutual funds that have given the highest returns year to date

Google Pixel 8 Launch 2023: Check date, time, expected new features, and price

India's smart TV Shipments fall 5% in H1, estimated to decline 7% in 2023: Report

Strong tremors in Delhi-NCR after 6.2 magnitude earthquake in Nepal

India's smart TV Shipments fall 5% in H1, estimated to decline 7% in 2023: Report

World Bank estimates Indian economy to grow at 6.3% in FY24; predicts service sector activity to grow at 7.4%

AMFI rejig: IRFC, Polycab and Jio Financial Services among others may enter large-cap category, says Nuvama

Centre may come up with action plan next week to tame red-hot inflation

India is now 2nd-biggest manufacturing hub for mobile phones globally

IND vs NED Free Live Streaming: When and How to Watch India vs Netherlands ODI World Cup 2023 warm-up Match Live on Web, TV, mobile apps online

Hyundai Verna secures top safety rating in Global NCAP crash test

Senior Citizen Savings Scheme (SCSS): Know how much return you will get on investment from Rs 1 to Rs 15 lakh in SCSS

Udyog Aadhaar: What is Udyog Aadhaar? Why is it useful for MSMEs?

JSW Infrastructure makes strong debut at Dalal Street, shares list at 20% premium

Swiggy disburses over Rs 450 crore in loans to 8K restaurant owners

Incentive schemes for specific sectors to boost exports were also requested by the industry participants, the commerce ministry said in a statement.

Commerce Secretary BVR Subrahmanyam "assured the participants that necessary Government support would be extended to realise the full potential of service sectors and to remove any constraints in this regard," it noted.

The session was attended by about 100 participants representing various service sectors, including information technology, communications, entertainment, audiovisual, tourism, education, accounting and finance.

Services Export Promotion Council (SEPC) is hopeful of achieving the USD 300 billion exports target for 2022-23.
In 2021-22, it was USD 254 billion.

Services exports have increased to USD 71 billion during April-June this fiscal against USD 56. 22 billion in the same quarter last year, according to the council's data.