The Economic Times The Financial Express
The country's exports of services, powered by the booming software, consultancy, engineering and tourism sectors, was expected to touch $319 billion by 2011-12, the report said. The country's services exports, in the past-decade-and a-half, have increased fifteen-fold, from around $5 billion in 1990 to nearly $74 billion in 2006, the report said.
"Today, more than one-third of the country's aggregate exports are services, an exceptionally high share unmatched by any large developing country and only a handful of advanced countries," NCAER said in the report. Besides exports, the country's imports of services have also grown at an impressive rate, the report said.
"Against the world average of 10 percent, the country's services imports grew by a hefty 40 percent in 2006, while exports jumped by 34 percent," NCAER said. NCAER, in its report, further said that India needed to make tremendous efforts to maintain the growth trend in the services sector.
"For maintaining high growth of its service exports, India would need to push for effective market access for its service sectors, both under the bilateral and regional trading agreements and WTO framework," the NCAER report said.
Today, as industries have started feeling the shortage of skilled manpower, the country needs to pay attention to general and technical training, the report said. "India would also have to invest heavily on both general and technical education, and vocational training or otherwise it would lose the momentum in services sector growth," the NCAER report said.
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