Friday, January 28, 2022

IMG working to ease flow of services from India, vice versa

Indian service providers in except for IT cannot offer reciprocity of treatment to firms or individuals abroad.

By: ENS Economic Bureau | New Delhi |
April 22, 2015 2:57:36 am

An inter-ministerial group is working on measures to cut domestic rules that obstruct flow of services from India to the world and vice versa.

“These include services like maintenance, repair and operations of aircraft at Indian airports, bringing more health related business into what hospitals can offer patients from abroad and the scale of logistics business”, said a top government official to The Indian Express. These are part of measures the government is pushing to capture a part of the $4.3 trillion annual global business in services. India currently accounts for only $150 billion of it, he said, that too mostly in IT related  services.

The issues are also likely to be flagged at the Global Exhibition on Services to be inaugurated this week by Prime Minister Narendra Modi.

Ministry of commerce in association with Services Export Promotion Council and CII which is organizing the event involving 60 countries will however not be branding it like the Make In India campaign, next door. Rajeev Kher, secretary ministry of commerce said India could become the hub of such exports for south and central Asia. Kher said just as manufacturing trade fairs have been used by China to attract business into the country, India could do the same with services.  “We have advantage of technology and language like English which can give us a massive support (to offer trade in services)”, he said.

Indian service providers in except for IT cannot offer reciprocity of treatment to firms or individuals abroad, because of internal restrictions, forcing them to use the services of puny Indian firms which restrict expansion of employment within the economy.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard