Services export reaches over $178 billion in Apr-Dec 2021 despite Covid-19 pandemic: Piyush Goyal
The commerce and industry minister Piyush Goyal has said that a year 2022 will be the breakthrough year which will unlock the country's exponential value. He noted that services export has reached more than $178 billion in April-December 2021 despite the Covid-19 pandemic when the Travel, Hospitality & Tourism sectors were significantly down.
Goyal lauded the ITES (Information Technology Enabled Services) industry including the Business Process Outsourcing (BPO) sector for the record Services exports during the last year and informed that the government has taken several steps to boost the start-up ecosystem, as removing problems of 'Angel tax', simplification of tax procedure & allowing self-certification and self-regulation, reducing the burden of over 26,500 compliances and decriminalization of 770 compliances.
The minister has said that the New India is today being led by a new troika of Innovation, Technology & Entrepreneurship (ITE), which in a way has grown further from the original ICE (Information, Communication & Entertainment) and India's unique digital infrastructure - Aadhaar, Digilocker, Fastag, Cowin, UPI have enabled Access & Affordability. He also unveiled a five-point plan as the way forward for the NASSCOM as emphasis on basic & core needs of people, providing better access to financial services, education & healthcare; solutions to problems of farmers; Focus on High growth & Job creating sectors, Advertising & Marketing, Professional services, Fitness & Wellness wirh Yoga becoming popular globally, Gaming, Sports, Audio-Visual services; AI, IoT, Big Data, Data Analytics, Blockchain, Virtual Reality, 3D Printing and Drones.
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