Govt should set up nodal agency to lift service sector: Study

The government should take various steps including setting up a separate department to promote growth of service sector in the country, an Assocham- Resurgent India study today said.
"It is the need of the hour that government should set up a nodal agency or department for smooth functioning of service sector," it said.
To promote export of services from India, it suggested promotional and marketing activities like setting up a portal and showcasing India's competence in exhibitions.
Besides, the government and Reserve Bank should provide adequate and affordable credit facilities to support the sector.
The sector contributes significantly to the GDP, employment, trade and FDI inflows.

"We need to amplify our presence manifold in sectors where onshore and non-offshore services are valued such as travel, transportation, healthcare, education, communications and financial services," it added.
It further said Indian mobile services market is expected to cross USD 103.9 billion by 2020.