The nation’s services exports are anticipated to grow 10 per cent in 2021-22 resulting from wholesome development of sectors equivalent to skilled and management consulting, audio visual, freight transport, and (*10*), in line with SEPC.
Services Export Promotion Council (SEPC) Chairman Maneck Davar mentioned regardless of the pandemic, the sector recorded a decline of solely 3 per cent in exports in 2020-21 to USD 205.27 billion.
“Based on the RBI data, we are confident that we will again experience high growth as services exports are projected to grow by 10 per cent in 2021-22 due to the performance of sectors such as professional and management consulting services, audio visual and related services, freight transport services, telecommunications, computer and information services,” he mentioned.
The exports in 2019-20 and 2018-19 stood at USD 214.61 billion and USD 205.79 billion, respectively.
To additional increase the shipments, Davar urged that the federal government ought to body an incentive scheme in the forthcoming overseas commerce coverage which ought to be result-oriented and assist MSMEs, which accounts for over 90 per cent of the providers sector.
“We have submitted a Duty Remission on Export of Services scheme (DRESS) similar to RoDTEP (Remission of Duties and Taxes on Exported Products), I personally think that a less complex scheme can be devised which will truly incentivise services exports and link the same to growth,” he added.
He mentioned there are a whole lot of sectors with big potential equivalent to telemedicine, enterprise providers, healthcare and schooling the place exports could be elevated considerably.
“We are preparing a roadmap to submit to the government to further increase services exports,” the chairman mentioned.