Shri Pranab Mukherjee, Hon’ble President of India, emphasized the need for liberalization and reform of the Indian services sectors to promote growth of services exports from India which has high potential. He was speaking at the inaugural ceremony of the Global Exhibition on Services (GES) organized by the Ministry of Commerce and Industry in partnership with the Confederation of Indian Industry (CII) and the Services Export Promotion Council at the India Expo Center and Mart in Greater Noida on 20 April 2016.
Noting that the dynamism of the Indian services sector is a reflection of the liberalization process, he said that services which had seen deeper reforms grew faster and attracted more Foreign Direct Investments (FDI). “The services sector has emerged as an agent of change and drives the economy in an inclusive and equitable manner,” stated the President.
The services sector requires infrastructure and skill development, added the President. Observing that campaigns such as Make in India, Digital India, Skill India and Startup India were transforming the country, the President exhorted businesses to seize the opportunity and become co-partners of the success story.
Shri Ram Naik, Governor of Uttar Pradesh, emphasized that Noida is a gateway to the state, which offers multiple tourist and industrial destinations. He called for greater attention to improving quality of services offered in the country. The Governor noted that UP has a population of 210 million skilled and unskilled workers and both need to be employed productively. “If UP develops, India develops,” he said.
Outlining the successes of the Indian IT industry, Mr Ravi Shankar Prasad, Minister for Communications and Information Technology, said that Digital India provides platforms for digital empowerment. “In 5-6 years, Digital India will be a trillion dollar industry,” he stated. India is the world’s topmost outsourcing destination with $108 billion exports which contribute 45 per cent to India’s total exports, he noted.
Smt Nirmala Sitharaman, Minister of State for Commerce and Industry (I/C) said that of 12 services sectors identified by the WTO, 8 were represented at the GES. She said that the Trade Facilitation Agreement of the WTO can be successful with the participation of services such as transport and logistics. “India shall emerge as services hub for the world across sectors with international quality standards”, stated the Minister.
Dr Mahesh Sharma, Minister of State for Tourism and Culture (I/C) observed that although India has a large tourism services industry, it attracts less than 1 per cent of global tourists. The new National Tourism Policy targets 1 percent of tourist flows by 2020 and 2 per cent by 2025, he stated, through initiatives such as ‘Adarsh Monuments’. E-visas have been availed by 4.6 lakh visitors already, he announced.
Commerce Secretary Ms Rita Teaotia provided an overview of Indian services exports, which have gone up from $16.8 billion in 2001 to $155.6 billion in 2014-15. India’s growth rate of services exports between 2010 and 2014 is the highest in the world and the country is the world’s 8th largest exporter of services, despite being an emerging economy.
Dr Naushad Forbes, President, CII, said that many services sectors can replicate the export success of its IT sector. “We need to identify how to grow productivity in services so that India can lead the world in services exports,” added Dr Forbes.
The Global Exhibition on Services has 400 exhibitors and the participation of almost 70 countries, stated Mr Chandrajit Banerjee, Director General, CII.
This is the second edition of the GES which was first held in 2015 and inaugurated by Prime Minister Shri Narendra Modi. The valedictory session will be addressed by Mr Arun Jaitley, Minister of Finance, Corporate Affairs and Information & Broadcasting on 23 April 2016.
Greater NOIDA, U.P.
20 April 2016