Govt Aims To Promote Greater Exchange Of Trade In Services Between India And ROW

With an aim to engage industry and Governments across the world and to promote greater exchange of trade in services between India and rest of the world, Department of Commerce, Ministry of Commerce and Industry in association with Services Export Promotion Council (SEPC) and Confederation of Indian Industry (CII) has created a dedicated platform, the Global Exhibition on Services (GES) which is an annual event. India is looking to attract investments and partnerships in strategic areas like aviation and space programme, infrastructure, telecom projects, financial management and accounting, content, design, media distribution and outsourcing publishing work, Intellectual Property management services and environmental/ social impact assessment.

Through GES the Government of India seeks to enhance strategic cooperation and develop synergies to strengthen multilateral relationships between all stake holders, tap the potential for services exports and increase FDI inflow. In GES 2019 SEPC is also looking to promote eSports. The eSports industry is expected to grow rapidly and in 2017 worldwide revenue generated in eSports market amounted to USD 655 million. The market is expected to generate close to USD 1.8 billion in revenue by 2022.

Foreign delegates from 100 countries and participants from 15 states of India are expected in GES 2019. India is also aspiring to promote niche tourism like the Buddhist circuit, adventure and camping tourism. Uttar Pradesh is the partnering state mainly to promote the tourism sector and will have a separate state pavilion in GES 2019.

In order to attract more players in the services sector India has liberalized its e-visa regime in three categories: e-tourist, e-medical and e-business to promote these sectors. Multiple entry tourist and business visas for a period of five years are now available to nationals of all countries for the benefit of medical tourists. Separate immigration counters and facilitation desks have been provided at six Indian international airports of Delhi, Mumbai, Kolkata, Chennai, Bengaluru and Hyderabad.

Government of India through Directorate General of Foreign Trade (DGFT), Department of Commerce has been endeavoring to develop exports by incentivizing the service exporters through the Service Exports from India Scheme (SEIS) which is an incentive scheme introduced in the Foreign Trade Policy (FTP) 2015-2020. Under SEIS incentives to services exporters during the FY 2018-19 stood at Rs. 4262.80 crore. SEPC is an export promotion council set up by Ministry of Commerce and Industry, Government of India in 2006 as an apex trade body to facilitate service exporters of India. SEPC actively contributes to the formulation of policies of Government of India and acts as an interface between the services industry and the Government. It has a membership base of 4800 members from the 14 service sectors.

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