From the time when brain drain was considered a major concern for India, we are now moving to a situation of brain gain, resulting from the growing potential of skill-based services. India has a huge potential in providing diversified human resources to cater to needs of both domestic as well as global economy, which needs to be tapped though scientific skill mapping. This was stated by Narendra Modi, Prime Minister of India, while delivering his inaugural address at the ‘Global Exhibition of Services’ during the function organised by the Ministry of Commerce & Industry in association with Confederation of Indian Industry (CII) and Services Export Promotion Council (SEPC).
Elaborating further on the subject, he stated that in a country as diverse as India, one-size-fits-all approach may not be appropriate. There are certain skills which are prevalent in a particular state, which need to be identified so that training centres can be set up to spread these skills. At the same time, there is a need to understand the needs of our trading partners and accordingly tailor our skills supply to meet their requirements.
We should also explore the possibility of adding value to the services that are being presently exported to various countries. For instance, we could provide trained personnel with soft skills such as local language, culture, mannerism etc of the host country in order to enhance our acceptability and earning potential.
The prime minister mentioned IT and Yogaas two services, which have earned a distinct identity for India in the international arena even without government support. Now the government is committed to provide conducive environment to unleash the potential of other services sectors such as music, arbitration, finance etc. The government is also keen that global investment directly comes to India rather than take the route of countries like Mauritius or Singapore. ‘
Speaking at the conference, Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce & Industry, said that in the last two decades, India’s services sector has evolved as the leading sector with considerable contribution to the nation’s income, trade, investments and employment. Further, the success of the services sector becomes even more important for supporting the ‘Make in India‘ initiative. The employment and manufacturing linkages of the services sector make it an important driver of inclusive growth, said Sitharaman. As a part of the focused strategy to promote the sector, the government is taking several steps to boost the services exports, like diversifying services export basket and exploring new geographies, informed Sitharaman.
Welcoming the dignitaries and delegates to the inaugural session of the exhibition, Rajive Kher, Commerce Secretary, Ministry of Commerce and Industry, said that the exhibition was the first of its kind on services. It focusses on ten sectors namely IT & Telecom, Tourism, Media & Entertainment, Healthcare, Logistics, Professional Services, Education, R&D, Space and SME in Services.
Speaking earlier at the session, Sunil Bharti Mittal, Chairman, Bharti Enterprises and Past President, CII, stressed on the need for strengthening and developing all the verticals of the services sector. Expressing his confidence on the growth of the services sector, Pratap C Reddy, Chairman, Apollo Group of Hospitals, said that India has come a long way in healthcare services and has the potential to emerge as a global healthcare destination. T M Bhasin, Chairman Indian Banks’ Association and MD and CEO, Indian Bank, said that the Indian Banking and Financial Services Industry has strong potential for growth. Naresh Trehan, Chairman, SEPC, said that India can become the services provider to the world.