Piyush Goyal says FTAs ​​will help trade in services

Commerce Minister Piyush Goyal has called for intelligent and smarter ways of engaging with the global economy to enable India to make the most of opportunities in trade in services.

“There comes a time in the development path of every country when the country redefines itself and strives for new resolutions. Today that time has come. Now we must strive to become international and free trade agreements (FTAs) also open the door to the service sector,” he said Goyal.

Speaking at a conclave on global services exports organized by the Services Export Promotion Council (SEPC) in collaboration with the Indian Society of Consulting Engineers in Delhi on September 15, the minister said that in just 2 years, the Indian services sector has registered 55- percent growth and India to think smart, go global and integrate seamlessly into international systems. “We need to engage with stakeholders around the world and seize opportunities for the sector.”

The minister said the government should also identify countries where there are restrictive practices that prevent Indian talent from bidding or participating in opportunities related to engineering services.

He called for different levels of engineering qualifications to meet the needs of the engineering services sector. “The time has come for our engineering sector to have levels of engineers such as generalists, specialists and a skilled workforce to support them. Once we establish this comprehensive ecosystem, we will be able to reach our goal of $100 billion for engineering services, design, construction and research and development by 2030,” Goyal said.

“India’s services sector is the engine of our economy and plays a key role in our global positioning. It will not only increase our presence on the world stage, but also set a blueprint for sustainable growth that will benefit both our nation and the global community. ,” said Abhay Sinha, Director General, SEPC.

“The Global Services Export Conclave illustrates India’s commitment to promoting sustainable energy, transport and infrastructure services. As we strive for a more connected and greener world, together we are defining a roadmap for growth that will benefit businesses and contribute to India’s global profile,” said Karan Rathore. , SEPC Vice President.

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