We are targeting to ensure that exports are not only traditional products, but new products are also added to the basket
NEW DELHI: The Government is working on a strategy to boost share of services, which will grow faster than merchandise exports raising the total exports from the Country, said Commerce and Industry Minister Suresh Prabhu.
"In last few months, we are seeing exports registering growth. We are targeting to ensure that exports are not only traditional products, but new products are also added to the basket. We are focusing on services and have identified 12 services as 'Champion Services'," Prabhu said after inaugurating CapIndia event.
He said that the Government has already approved a Rs 5,000 crore to promote 12 champion services sectors such as IT, tourism and hospitality.
The decision, he said, will drive growth of the services economy in India. We have prepared an action plan for each of these sectors to promote them domestically as well as globally, the Minister said.