Financial Daily from THE HINDU group of publications
Friday, Aug 02, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Industry & Economy - Economy


Ministry devising steps to fine-tune services exports

Our Bureau

HYDERABAD, Aug. 1

THE Commerce Ministry is evolving a medium-term export strategy for the services sector which is WTO compatible and on the lines of the one announced for the commodities sector, Dr H.A.C. Prasad, Economic Adviser in the Ministry, told a meeting of the Confederation of Indian Industry (CII), Southern Region here.

With the services sector forming 53 per cent of the GDP, it is important for the country to fine-tune this strategy, and in doing so, the Government has taken the initiative to invite suggestions and inputs from exporters, industry, trade bodies, the Exim Bank and the State Governments, he said.

In addition to the information technology-enabled services (ITES), whose potential has been estimated around $17 billion, even the non-IT areas such as super speciality hospitals, education, ship maintenance, lab testing and satellite mapping have several revenue-generating opportunities, Dr Prasad said.

The Commerce Ministry is planning a series of meetings to get a feedback and concrete ideas to formulate a medium-term export strategy before the end of the year.

Already meetings have been held in Kochi and Delhi.

In the commodities sector, the country did not have the option and had to formulate a strategy early this year, which is WTO compatible since negotiations were already over. In the case of the services sector, negotiations are on and we have a better opportunity to understand and come up with a medium-term strategy that benefits the country, Dr Prasad said.

In the ongoing WTO negotiations, India has been demanding higher market access for professionals and highly skilled persons. Similarly, issues such as exports via e-commerce and uniform cyber laws, conditionalities in the developed countries should be thoroughly discussed, he said.

Mr M. Gopalakrishna, Convenor, Economic Affairs Panel of CII and Chairman of the Andhra Pradesh State Finance Corporation, said the WTO had identified 12 sectors in the services area and the policy should identify and prioritise these with suitable action plans. "We have to take an integrated view of the global market, and also benchmark our capabilities with world standards because potential exists, but the question is whether and how we can get a slice of it,'' he said.

Send this article to Friends by E-Mail

Stories in this Section
Tax-free bonds cap may be set around Rs 10 lakh


Tax-free bonds look appetising
Personal finance exhibition
Ministry devising steps to fine-tune services exports
Strengthen info base on business cycles: RBI
Karnataka off-Budget borrowings stand at 3 pc of SDP
Idukki forests reel under encroachment
Prices hiked for furnace oil, LSHS
New role for KPCL chief
Service tax net cast wider
`No plan to privatise Kerala Water Authority'
Plan panel pitches for review of DTH policy
Engineering courses
Malaysian team visits Anna varsity
Delhi Public School keen on Chennai project
Quality Improvement Year for schools in Kerala
Hero Honda sales up 32 per cent in July
Food processing services stopped
Tirupur apparel park plan awaiting State Govt nod
Punjab to sell entire stake in Puncom
HC extends order on Jessop sell-off
Action plan for AP co-op finance corpn
Nabard agrees to Rs 400-cr assistance for TN
Vigil by technical staff of DD, AIR
Narayana Murthy on how to run a govt
ICICI Bank property show begins today
Home loan festival from Vibank
Swarovski crystal fest begins today
SSI expo
Tune into the FM
I-T staff in Kolkata get set for last-minute rush
Q1 export growth at 11.3%
China edging out Indian exports to Japan: FICCI
Drought situation `alarming'
AP Govt declares 836 mandals drought-hit
Study on backwater tourism under way


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line