New Delhi:
Union Commerce and Industry Minister Piyush Goyal said that the IT sector under the leadership of MSME may reach the 450 billion dollars of service export target in the next financial year. Union Minister Goyal underlined the important role of IT and IT-INBED Services (ITES) sector in India’s economic growth.
India’s global presence will be strong
The Union Minister said that the export of the service sector reached around $ 340 billion last year, with IT and ITES contributed to about $ 200 billion. This year, service export (service export) is expected to reach between $ 380 billion to $ 385 billion, which will further strengthen India’s global presence.
In the ‘Global Confluence 2025’ organized by NASCOM, the Union Minister said that innovation and adaptability have an important role in increasing India’s competence.
MSME and IT sector expected financial change
The Union Minister confirmed confidence in India’s IT sector and MSME as the major factors of the country’s economic change during the Amrit period, who are working collectively in the direction of a developed and prosperous India.
Emphasis on bringing global capacity centers (GCC) to India
He praised Nascom for promoting the culture of continuous learning, stating that IT sector has been constantly ahead by adopting new technologies like quantum computing, artificial intelligence and machine learning.
Instead of relocating talent abroad, encouraging businesses to operate from India, he said that this will increase foreign exchange income and boost domestic economic development.
Demand for real estate and infrastructure from IT sector will increase
Discussing the growing middle class and rising consumption levels of India, Union Minister Goyal underlined the benefits of IT-based development, including the increasing demand for commercial real estate, housing and infrastructure. Center Minister Goyal said to the attendees, “Nascom is playing a very important role in this changing times. Needed.”
Promotion of global participation from free trade agreements (FTA)
The Union Minister reiterated the government’s commitment to expand global participation through free trade agreements (FTAs) and bilateral relations.