The second version of the Global Exhibition on Services sector to be held from April 21-23 in Greater Noida. Perceiving the developing significance of service industries, the Department of Commerce, Ministry of Commerce and Industry, Government of India, the Confederation of Indian Industry (CII) and the Services Export Promotion Council (SEPC) will be mutually sorting out the second version of the Global Exhibition from 21 to 23 April 2016 at IEC&M, Greater Noida.
GES 2016 will be introduced by President of India, Pranab Mukherjee, on April 20, 2016. The centre segments in GES-2016 are – Banking and Financial Services; Education; Environmental Services; Green Building/Architectural Services; Healthcare; IT and Telecom; Logistics; Media and Entertainment; Next Gen Cities; Professional Services/Legal; Quality/TPM Services; R and D; Retail; Skills Expo; SMEs in Services; Space; Tourism and Hospitality.
“In the worldwide setting, the significance of the service sector can’t be accentuated more. It contributes more to worldwide yield and utilizes a larger number of individuals than some other segment. All inclusive, administrations contribute just about 33% of world gross value added, half of world vocation, one-fifth of worldwide exchange and more than half of the world remote direct venture streams. The service sector has accordingly risen as the most element part of the world economy,” said an official statement.
Service sector contributed very nearly 66.1% of its gross value added development in 2015-16 in India. The services sector is an essential net foreign exchange earner and the most appealing part for outside direct venture inflows. In 2014-15, while add up to FDI value inflows developed by 27.3% to US$30.9 billion, FDI value inflows to the services sector developed by an incredible 70.4 % to US$16.4 billion.
The share of India’s service exports in worldwide services exports, at 3.2% in 2014, is about twofold that of its stock fares in worldwide merchandise exports at 1.7%. The sector is fundamental to financing our stock exchange deficiency.
GES is quick rising as an authoritative stage for the Services Sector around the world. The valedictory session on April 23, 2016 will be tended to by Union Finance Minister Arun Jaitley.
Government needs to give important technical backing to service exporters for empowering them to misuse the worldwide trade in the sector, Commerce Secretary Rita Teaotia said.
She said that the nation has tremendous potential in the sector as far as improving exports, drawing in outside direct venture, work creation and pushing general financial development.
“So, there is need for us to provide the necessary technical support and the technical backup to our services exporters to enable them to exploit the global trade in services to the maximum extent possible,” the official said.
At the occasion, Commerce Minister Nirmala Sitharaman told correspondents that government has found a way to give a help to the service sector.
Sitharaman said members from in regards to 60 nations are relied upon to go to the display.
“We have tremendous quality as far as HR. Our foundations are creating one of the finest experts crosswise over services…We have the cost advantage…We have developed on the back of IT/ITeS benefits however it is by all account not the only thing that we send out,” she said.
Speaking at the occasion, CII Services Council Chairman Malvinder Singh said that the sector is growing at a healthy rate and considerable will come in the coming years.
“The sector has an eventual fate of endless open door – in a world which is turning out to be quickly digitized, topographical limits have as of now been made to a great extent excess and relational abilities can be sharpened to perfection with the large scale traffic of opinions on social media,” he said.
“In 2016, we look forward to a robust and meaningful participation, both nationally and internationally. Ministerial delegations are expected from several countries – already almost 40 countries, 80 buyers from service sectors, 200 exhibitors and 15 Indian states, 20 PSUs, over 50 international companies have confirmed their presence and many more are expected over pthe next few weeks, New services are continually being launched to satisfy existing needs and to meet newer needs”, it said.
It included that some fundamental highlights this year would be a media and entertainment content market surprisingly in the capital, a health care and a tourism store to unite partners over MoUs and B2Bs, a food festival to speak to cooking styles of the world and marvelous social shows sorted out by ICCR and the I & B Ministry