Commerce and Industry Minister Smt. Nirmala Sitharaman has said that the services sector today is knowledge driven and along with technology has on important role to play in economic growth. Addressing the curtain raiser conference of the GES (Global Exhibition on Services) 2017, she said the 3rd edition of GES will build on the success of the first two GES events held in 2015 and 2016.
Commerce Secretary Mrs Rita Teotia also emphasized the importance of services sector in employment generation and economic activity.
GES 2017 explores new verticals. There are 20 sectors that are being tapped as compared to 17 sectors in the previous years. The new areas being unveiled are Retail and E-Commerce, Sports Services and Railway Services. The exhibition area in the third edition is spread over 42,000 sq. mts.
GES 2017 promises to a vibrant and enriching experience with the expected presence of important countries, dignitaries and thought leaders. Some new initiatives planned to be held alongside GES 2017 are a festival of Indian cuisine and TedX style Talks. The food sector has emerged in India as a high-growth and high-return sector due to its immense potential for value addition, particularly in the area of food processing.
A strong services sector backed by a manufacturing sector targeted for higher growth through initiatives like Make in India can play a pivotal role in the growth of our economy and enable it to find its rightful place amongst world economies. Government recognizes the importance of the service sector today as an agent of change and transformation for the country. As per provisional numbers released by RBI for the current financial year, the service export figures for April to September 2016 have touched US $ 80 billion as against US $ 77 billion for the corresponding period of the previous fiscal – a rise of almost 4%.
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