01-01-1970 12:00 AM | Source: Accord Fintech
Centre formulates `Action Plan for Champion Sectors in Services`
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With an aim to give focused attention to 12 identified Champion Services Sectors, the Centre has formulated ‘Action Plan for Champion Sectors in Services’ which are namely, Information Technology & Information Technology enabled Services, Tourism & Hospitality Services, Medical Value Travel, Transport & Logistics Services, Accounting and Finance Services, Audio Visual Services, Legal Services, Communication Services, Construction and Related Engineering Services, Environmental Services, Financial Services and Education Services. Rs 5000 crore has been earmarked to support sectoral initiatives of the Nodal Ministries/Departments identified for these sectors.

Besides, the Government of India follows a multipronged strategy in order to promote trade in services such as negotiating meaningful market access through multilateral, regional and bilateral trade agreements; and 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.

Besides, 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 January 2023.