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Services Sector To Achieve $1 Tn Target By 2030: Piyush Goyal

Goyal emphasised that the services sector needs to dream big and march ahead to become competitive in the global markets without incentives and subsidies

Photo Credit : PIB

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The services sector is on course to achieve the target of USD 350 billion by 2022-23 and furthermore, USD 1 trillion by 2030, said Union Commerce Minister Piyush Goyal on Thursday. 

While speaking at a session by the services export promotion council, he reiterated that Services is a fast-growing sector and given the phenomenal growth, the sector does not require the crutches of incentives. 

Goyal emphasised that the services sector needs to dream big and march ahead to become competitive in the global markets without incentives and subsidies. 

Self-sufficiency and Atma nirbhar bharat in services is the way forward, Goyal added. 

“Transforming workforce skills for services exports is key for economic growth. The talent pool that India has to offer is perfect to meet the needs of the world, especially in a post-crisis world. The new NEP has opened the doors for wider engagement with the world," he stated. 

The minister said that today overseas countries are interested in collaborating with us in student exchange programs, opening new campuses in India and having our esteemed universities in their nation. 

"India has the talent and skills, education, and knowledge that no other country has. Many developed nations have witnessed growth and innovation with major contributions from our workforce, and our students," he added. 

As there will be a growth in the knowledge economy we need to strengthen ourselves and compete with the best. We have the capacity and capability to do the same, he continued. 


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