Service sector

India’s service sector exports grow 33% in five years

India’s service sector exports have increased by more than 33% over the past five years.

While India’s services exports were just $154,311 million in 2015-2016, they reached $206,090 million in 2020-21, a senior Commerce Ministry official said on Thursday.

He said the government had also approved a “champion service sector action plan” to give particular attention to 12 identified champion service sectors. With the identification of 12 champion service sectors, the Bureau of Indian Standards (BIS) has set up a dedicated Service Sector Division Council (SSDC) to formulate Indian standards in various service sectors, particularly the service sectors. of champion services, the ministry said.

There are currently 84 published standards for various service sectors. “To the extent possible, Indian standards are harmonized with international standards to ensure that the quality of services meets global expectations,” the ministry said.

The 12 sectors that have been approved under the action plan include information technology and information technology enabled services, tourism and hospitality services, medical value travel, transport and logistics services, accounting and financial services, audiovisual services, legal services, communication services, construction. and related engineering services, environmental services, financial services and education services.