Cabinet approves plan for special focus on 12 services sectors

Cabinet approves plan for special focus on 12 services sectors

Published
Hot News
1 min read
Suresh Prabhakar Prabhu. (Photo: IANS/PIB)
New Delhi, Feb 28 (IANS) The Union Cabinet on Wednesday approved the proposal of the Department of Commerce to pay focused attention to 12 identified "Champion Services Sectors" for promoting their development."A dedicated fund of Rs 5,000 crore has been proposed to be established to support initiatives for sectoral action plans of the champion sectors," an official statement said."The cabinet has also directed the ministries/departments concerned with these sectors to utilize the available draft sectoral plans to finalize and implement the action plans for the identified champion services sectors," it added. The concerned services are Information Technology and Information Technology-enabled Services (IT and ITeS), tourism and hospitality services, medical value travel, transport and logistics services, accounting and finance services, audio visual services, legal services, communication services, construction and related engineering services, environmental services, financial services and education services, the statement said.Addressing the media after the cabinet meeting, Commerce Minister Suresh Prabhu said: "We have identified them on the basis of global research to find out which are the sectors that have the potential to grow...like for example in medical tourism, we have a huge advantage." The initiative will enhance the competitiveness of India's service sectors, help create more jobs and promote exports to global markets, the statement said.--IANSrrb/bc/qd/bg

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!