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Commerce and Industry Minister Nirmala Sitharaman has said the government will identify "key barriers" facing the services sector and then undertake "specific reforms".
The minister discussed various issues pertaining to the services sector in the meeting of Consultative Committee of Parliament yesterday.
Recognising the fact that better services improve the competitiveness of manufacturing in international trade via reduced costs, the Minister stressed on the role of services in the success of "Make in India" campaign.
The Minister questioned that when services constitute 57% of our GDP, why should our share in world exports of services remain at a low level of 3.24%?
"Many services are critical inputs in local production and trade...Apart from being a foreign exchange earner, services sector has a critical role in the inclusive growth paradigm of the country - in terms of providing significant employment opportunities," it said, adding export of services has a direct bearing on creating more jobs locally.
Sitharaman told the committee that India offers the world abundant human resources including quality professionals who are at par with international standards.
