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Source: The post is based on the article “Centre formulates ‘Action Plan for Champion Sectors in Services’ to give focused attention to 12 identified Champion Services Sectors” published in PIB on 11th February 2023.
What is the News?
Centre has formulated an ‘Action Plan for Champion Sectors in Services’ to give focused attention to Champion Services Sectors.
What are Champion Services Sectors?
Champion Services Sectors refers to the 12 identified sectors where the Government wants to give focused attention for promoting their development and realizing their potential.
These sectors are namely: 1) Information Technology & Information Technology enabled Services, 2) Tourism & Hospitality Services, 3) Medical Value Travel, 4) Transport & Logistics Services, 5) Accounting and Finance Services, 6) Audio Visual Services, 7) Legal Services, 8) Communication Services, 9) Construction and Related Engineering Services, 10) Environmental Services, 11) Financial Services and 12) Education Services.
What are the steps being taken by the Government to promote the Champion Service Sectors?
The government of India has formulated an “Action Plan for Champion Sectors in Services” to give focused attention to 12 identified Champion Services Sectors.
It has allocated Rs.5000 Crores to support sectoral initiatives of the Nodal Ministries /Departments identified for these sectors.
It follows a multipronged strategy in order to promote trade in services through the following steps,
Negotiating meaningful market access through multilateral, regional and bilateral trade agreements.
Trade promotion through participation in and organization of international fairs/exhibitions.
Addressing domestic sectoral challenges and difficulties which are identified through periodic consultations with the stakeholders.
The Bureau of Indian Standards (BIS) has set up a dedicated Services Sector Division Council (SSDC) to formulate Indian Standards in various Services Sectors especially Champion Services Sectors.
Districts as Export Hubs Initiative: Under the initiative, products with export potential have been identified from districts of the country.