India is formulating requirements for the companies sector in order that the nation can have prime quality of companies to supply to the remainder of the world, Commerce and Industry Minister Piyush Goyal stated on Saturday.
He stated that India is quickly progressing throughout sectors comparable to healthcare, dwelling supply, telecom and know-how.
“In India, we are formulating standards for the services ecosystem so that we can have a very high quality of services which we offer to the rest of the world. India is also rapidly progressing to become one of the world’s largest digital markets, be it fintech, edutech and telemedicines,” the minister stated at IACC-NIC’s second Indo-US Services Summit.
Talking about authorized companies, he stated Indian legal professionals are prime class and have big alternatives opening up for them throughout the globe.
“We can make sure that we can provide adequate safeguards for the lawyers in the lower courts and larger ecosystem in the legal profession but we will certainly engage with you (experts) and other luminaries and I think we have already set up a committee with the law ministry to examine this issue in greater details,” he added.
Further, Goyal stated that the US is the hub of innovation, know-how, analysis and high quality schooling, whereas India has expert and clever manpower at aggressive costs. Total service exports from India to the world was USD 17 billion in 2001-02 and now it has jumped to USD 205 billion in 2020-21.
“As I see them, our services sector will be far more resilient, reliable, robust and it will be at the forefront of economic recovery in a post-Covid world,” he stated.