GES 2017 to open new doors for services sector
By Kanchi Batra The 3rd edition of Global Exhibition of Services (GES) was off to a bright start on Monday with ‘best of the global services” on display at the India Expo Mart & Centre in Greater Noida. Intensifying in its scale and scope by bringing three new services areas – environmental services, space, and sports services – and more exhibitors to its fold, GES 2017 is set to open new doors for services sector in India and prove to be a real game changer. The services sector of India is not only the leading sector contributing to India’s GDP, it has also garnered momentous foreign investment flows and contributed to exports. This sector contributed about 61% to India's GDP, rising strongly ...
Services sector could transform Indian economy
Deepak Kumar | The Dollar Business President Pranab Mukherjee on Wednesday referred to the service sector’s exponential growth in the past, and its absolute potential in future, to transform India from a developing to a developed economy. He, however, stressed this would require a services-driven development strategy in line with the government’s policies and overall national development objectives. “Services sector has emerged as an agent of change for the country. This sector drives the Indian economy in an inclusive and equitable manner. It is the ‘sector of the current millennium’, in terms of generating employment, skill development, bringing in FDI, enhancing trade and boosting strategic partnerships,” the President said on Wednesday. The President was speaking at the inauguration of the second edition of Global ...
India must be ready to meet growth in Bio-services sector: Expert
The Dollar Business Bureau The bio-services sector which is currently valued at US$ 5-6 billion is set to increase to US$ 50 billion soon and we should be prepared to meet this growth. V K Subburaj, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilisers, made the above statement at a round-table meeting on ‘Unleashing Opportunities in Bio-Services Including Contract Research & Manufacturing’, in New Delhi, on Friday. Stating that India makes pharmaceutical products worth US$ 30 billion every year and is a leading producer of generics, the Secretary expressed hope that the bio-pharmaceuticals will take over the sector in future. Speaking at the meet, the Secretary further stated that the conducive atmosphere for growth has been missing in ...
Too early to comment on new foreign trade rules: Exporters
The Dollar Business Bureau Days after mooting a Customs Clearance Facilitation Committee (CCFC) at every major customs seaport and airport, by the Customs Board, the Directorate General of Foreign Trade (DGFT) has come up with amendments in the Foreign Trade (Regulation) Rules, 1993, and it said that the rules may be called as Foreign Trade (Regulation) (Amendment) Rules, 2015. One of the key amendments is the inclusion of services and technology on the list of exporter/importer of goods. Earlier, the importer/exporter has been defined as the one who exports/imports goods and holds a valid Importer-exporter code number. In the new amendment, the licencing authority is the Director General (DG) to grant or renew a licence, certificate, scrip or any instrument ...
Indias journey has been from brain drain to brain gain: PM
By Vanita Peter D’souza & Neha Dewan | The Dollar Business Inaugurating the three-day Global Exhibition on Services (GES) in the capital on Thursday, Prime Minister Narendra Modi aptly summarized India’s evolutionary journey from brain drain to brain gain. He said that this results from the growing potential of skill-based services. The PM said that importance should be given to the fact that we as a nation have 65% of the population below the age of 35 years. “In the coming years, this average will reduce further. We as a nation should keep this in mind and prepare our development model accordingly,” he said. This is India’s first GES, with an aim to create a global platform for increased ...
Prime Minister kicks-off Global Exhibition on Services
The Dollar Business Bureau The Prime Minister, Narendra Modi inaugurated the first ‘Global Exhibition on Services’ in the capital, today. Speaking on the occasion, Modi said that India should assess its "service" capabilities in the global perspective, and added that it has vast potential to meet the skilled manpower needs of the entire world. He called for a careful mapping of global needs, which India could fulfil over the next decade, reported a PIB release. The Prime Minister also said that India had made the transformation from a country worried about its "brain-drain," to a country that thinks of "brain-gain." Stating that Human Resource is India's biggest asset, the Prime Minister said India's development journey should focus on the 65% ...
