In order to enhance the share of overall service sector in India’s Gross Domestic Product (GDP), Commerce and Industry Minister Suresh Prabhu has said that the government will work on promoting the growth of the education sector. He informed that the government was working with different universities and institutions in this regard. He also indicated that presently, the services sector accounted for two-third of India’s GDP.
According to the minister, promoting growth of services sector would help dealing with the issue, as employment generation is a major challenge. He also said that the educational institutes have to keep in mind the emerging challenges being faced by industries and introduce modern technologies like artificial intelligence, robotics and big data.
In February, the Union Cabinet had decided to give focused attention to 12 champion service sectors and mandated the identified nodal ministries and departments to formulate sectoral action plans under the dedicated fund of Rs 5,000 crore. The 12 champion service sectors includes IT, tourism and hospitality, transport, accounting, audio visual, legal, education and environment.