‘Action Plan for Champion Sectors in Services’

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Context:

• Centre has formulated an ‘Action Plan for Champion Sectors in Services’ to give focused attention to 12 identified Champion Services Sectors.

12 Identified Champion Service Sectors:

• These are:

• 5000 Crores have been earmarked to support sectoral initiatives of the Nodal Ministries/Departments identified for these sectors, Minister of State for Commerce and Industry.

Strategy to Promote Trade in Services:

The government of India follows a multipronged strategy in order to promote trade in services comprising the following:

1. Negotiating meaningful market access through multilateral, regional and bilateral trade agreements.
2. Trade promotion through participation in and organization of international fairs/exhibitions like the Global Exhibition on Services, Higher Education Summit etc. Focused strategies are undertaken for specific markets and sectors.
3. Addressing domestic sectoral challenges and difficulties which are identified through periodic consultations with the stakeholders. Moreover, efforts are made to engage with the concerned Ministries/Departments to pursue a domestic reform agenda to make the services sector competitive globally.
4. Bureau of Indian Standards (BIS) has set up a dedicated Services Sector Division Council (SSDC) to formulate Indian Standards in various Services Sectors, especially Champion Services Sectors. Wherever possible, the Indian Standards are harmonized with international standards for ensuring that quality of services match global expectations. BIS has already published 143 standards on services till Jan.' 2023
5. Districts as Export Hubs Initiative highlights the need to channelize the potential and diverse identity in each District of the country to make them export hubs. Under this initiative, the Department of Commerce through Directorate General of Foreign Trade (DGFT) works with the States/UTs and the districts directly to create institutional mechanisms to facilitate exports of identified products/services from the districts. Products and services with export potential have been identified in all districts of the country in consultation with all the stakeholders including the States/UTs.

https://pib.gov.in/PressReleasePage.aspx?PRID=1898023#:~:text=Centre%20has%20formulated%20'Action%20Plan,Transport%20%26%20Logistics%20Services%2C%20Accounting%20and