Services Export Promotion Council organised an interactive session with ministries and stakeholders to focus on Services Sector Exports Strategy for India@2047

Services Export Promotion Council, an apex trade body set by the Ministry of Commerce & Industry, Government of India, organised an interactive session to discuss two key subject matters. These were Transforming Workforce Skill for Services Exports and internationalization of Higher Education.

Hon'ble Commerce Minister, Shri Piyush Goyal graced the event with his presence. He reiterated that Services is a fast-growing sector and given the phenomenal growth, the sector does not require the crutches of incentives. The sector seems to be well on the course to achieving the target of $ 350 billion by 2022-23 and furthermore, $ 1 trillion by 2030. The CIM emphasised that the services sector needs to dream big and march ahead to become competitive in the global markets without incentives and subsidies. Self-sufficiency and Atma nirbhar bharat in services is the way forward.  Hon’ble Minister of State, Ministry of Education, Dr Subhas Sarkar also graced the occasion and partook in the deliberations. He emphasised on how the New Economic Policy will lay the foundation for reforming education sector in the country and help promote skilling and internationalisation of higher education.

The session promoted ideation and road mapping of the plan for the acceleration of Skilling and developing competencies in the education sector to enable it in delivering unparalleled services to the world. In addition, it focused on the Internationalization of higher education, more so in view of the NEP and FTAs.

Having taken note of the faith reposed in the services sector and acknowledgement of its contribution to the Indian economy, SEPC is dispensing all the energy and efforts to catapult services exports and enhance its contribution to the Indian economy.

Addressing the session Hono’able Commerce Minister, Shri Piyush Goyal shared, “Transforming workforce skills for services exports is key for economic growth. The talent pool that India has to offer is perfect to meet the needs of the world, especially in a post-crisis world. The new NEP has opened the doors for wider engagement with the world. Today overseas countries are interested in collaborating with us in student exchange programs, opening new campuses in India and having our esteemed universities in their nation. India has the talent and skills, education, and knowledge that no other country has. Many developed nations have witnessed growth and innovation with major contributions from our workforce, and our students. As there will be a growth of the knowledge economy we need to strengthen ourselves and compete with the best. We have the capacity and capability to do the same. The services sector has gone above and beyond the $ 300 billion target set for FY’23 and is inching toward achieving $ 350 billion. This shows that as a nation, we are unparalleled in our strengths and knowledge and with key preparations and strengthening the framework of all industries and sectors we can aim for big and bold goals.”

Hono’able Minister of State in the Ministry of Education of India, Dr Subhas Sarkar shared, “I am glad to be here at this landmark event by SEPC. I congratulate SEPC for organising this session on India@2047 strategy specifically about skilling and internationalisation of higher education. The National Education Policy 2020 envisions an education system rooted in Indian ethos that contributes directly to transforming India into an equitable society, providing high-quality education to all. This aims to position India as a global knowledge superpower. For the same, our collective aim should be dynamic skilling and higher education. We strive to make India a global destination for quality education at affordable costs.”

Shri Sunil H Talati, Chairman SEPC shared in his welcome address “It is essential for the services sector to come together and chart out a strategy that not only focuses on the now but also on the future. We need to focus on skill development in the next generation as well so that the sector strengthens at every rung. The services sector currently contributes 55% of the total exports. By 2023 we aim to reach 75% and internalization of education and skill development is key to witnessing such unprecedented growth. We need to work towards garnering a force that is not just highly educated but also highly employable. Besides this, internalization of education from a trade perspective is essential to increase the influx of overseas students and forex to reach the target of 350 billion export by March 2023.”

Dr Abhay Sinha, Director General SEPC shared, “SEPC is not just concentrating on the numbers but on value addition towards the services exports sector. All 16 sectors under SEPC from education and consulting engineering services to travel and marketing are crucial for us. There is one common thread that runs through all the sectors, and this is Skilling. Skilling is integral for any industry to grow and garner credibility in the global market. This interactive session to map out a plan for India@2047 talked about starting early and concentrating on the internationalization of education especially to increase the influx of overseas students. The aim is to bring India back to its position as Vishwaguru and help the economy as well through the export services of education.”

In his Vote of Thanks, Shri Karan Rathore, Vice Chairman SEPC, “This is a momentous occasion for SEPC as this interactive session on skill development and internationalization of education, especially for the younger generation is important to bridge the gap between industry and academia, especially in the context of India at the global stage. SEPC has acted as a catalyst to help the services sector grow and contribute immensely to the Indian economy. Today’s session takes us one step forward towards making to make India the global education destination for education.”