Nurture more job generating opportunities like tourism and IT industry

Nurture more job generating opportunities like tourism and IT industry

Government approves Rs 5000-crore action plan for 'champion' sectors

Mar 1, 2018|The Economic Times|Full Article

An action plan for 12 champion services sector identified by the ministry of commerce and industry for special focus has received Cabinet approval. A Rs 5,000-crore fund is proposed to be established to activate the plan for realising their full potential

The sectors are IT and IT enabled services, tourism and hospitality, medical value travel, transport and logistics, accounting and finance, audio visual, legal, communication, construction and related engineering, environment, financial and education.

The move is expected to “promote GDP growth, create more jobs and promote exports,” said a government statement. “The share of India’s services sector in global services exports was 3.3% in 2015 compared to 3.1% in 2014. Based on this initiative, a goal of 4.2 % has been envisaged for 2022,” the statement said. Through these focus sector the government will also targets raising gross value added (GVA) from about 53% in 2015-16 (61 % including construction services) to 60 % (67% including construction services) by 2022.

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