The government is working to make India's services sector more competitive and is planning to bring in reform measures in areas like legal and healthcare and will soon finalise a Cabinet note on that. Commerce Secretary Rajeev Kher has said that the government is working on reforms "with the whole intention of making them more competitive".
The Commerce Secretary further stated that couple of years ago, the government constituted an inter-ministerial entity for identifying and working on reforms which are required in various services areas in terms of legislation, practice, procedures, etc. He further stated that the services in focus include IT, ITeS, education, healthcare, logistics, media and entertainment, professional services, tourism, and research and development among others.
India has implemented several free trade agreements in goods and services, but services exports still face issues related with mutual recognition agreements. With a focus on enhancing the contribution from the services sector, which accounts for over 50 per cent in the country’s GDP growth, the government is planning to give incentives to the sector in the upcoming foreign trade policy and Budget. Share of India’s services sector in the global services trade is only 3 per cent as compared to 4.6 per cent of China. However, in global exports of services, India’s rank has been improved from 11th to 6th during 2009 and 2013.
The Commerce Secretary further stated that couple of years ago, the government constituted an inter-ministerial entity for identifying and working on reforms which are required in various services areas in terms of legislation, practice, procedures, etc. He further stated that the services in focus include IT, ITeS, education, healthcare, logistics, media and entertainment, professional services, tourism, and research and development among others.
India has implemented several free trade agreements in goods and services, but services exports still face issues related with mutual recognition agreements. With a focus on enhancing the contribution from the services sector, which accounts for over 50 per cent in the country’s GDP growth, the government is planning to give incentives to the sector in the upcoming foreign trade policy and Budget. Share of India’s services sector in the global services trade is only 3 per cent as compared to 4.6 per cent of China. However, in global exports of services, India’s rank has been improved from 11th to 6th during 2009 and 2013.
