Government planning to boost services exports | Suresh Prabhu

Commerce and Industry Minister Suresh Prabhu said the government is working on a comprehensive strategy to boost services exports and one billion dollars will be spent to promote 12 champion services sectors. Speaking at a function in New Delhi yesterday, Mr Prabhu said exports are being promoted in regions like Africa, Latin America and Central Asia.

The Minister said goods and services exports grew by more than 12 per cent over the last year. He said, India is aiming at a 5 trillion dollar economy by year 2026-27 and goods and services exports are targeted at one trillion dollars of this.Mr Prabhu said services trade is growing faster than merchandise and such dynamic changes need to be captured in the global trading system.