Commerce Minister Piyush Goyal is optimistic about achieving the service export target by 2030
Commerce Minister Piyush Goyal has said that the country is set to achieve the service export target of $1 trillion by 2030, as it is a key factor in driving economic growth.
Addressing a conference, the minister said that the services sector provides employment to more than 20 million people in the country and contributes about 40 per cent to India’s overall global exports.
Shri Goyal said that the trade surplus in the services sector stood at $89 billion in 2020-21 and has been the largest Foreign Direct Investment (FDI) recipient.
Appreciating the country’s commitment to enable “work from home” during the onset of the coronavirus pandemic, he said the services sector displayed a great deal of flexibility, especially considering the fact that it is a part of other countries. I have been sad.
The labor ministry had formalized work from home earlier in the year and prepared a separate model standing order for the services sector in the country for the first time.
Expressing optimism over India’s potential to become one of the top service exporters in the world, Mr Goyal said the services sector is driving the country’s transition from an “assembly economy” to a “knowledge-based economy”.
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