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Services Sector Needs To Become Globally Competitive: Piyush Goyal

Goyal said that the services sector had set an export target of USD 350 billion, which it was on track to achieve and urged the EPCs to consider exploring new markets such as South America and Africa

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Union Minister of Commerce and Industry Piyush Goyal on Thursday asked all stakeholders from the services sector to focus on the natural competitive advantages of the country. 

Goyal urged them to focus on innovation and on building competitive advantages.

He emphasised that we must move beyond the traditional and be modern, contemporary and practical in our outlook. 

Goyal said that the services sector had set an export target of USD 350 billion, which it was on track to achieve and also urged the Engineering, Procurement, and Construction (EPC) to consider exploring new markets such as South America and Africa. 

The minister said that the government was responsive to the requests of all stakeholders in the services sector and in all the Free Trade Agreement (FTA) negotiations we have been focusing on getting greater market access to the service sector. 

Referring to prevailing global headwinds, he said that India had always been resilient enough to withstand adversity and emerge successful. 

"India has skills, talent and knowledge that no other country has, and the high quality of our education is now globally recognised. Indian technocrats were spearheading innovation, venture capital, startups and investment in several developed nations across the world," Goyal added.


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