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In the Foreign Trade Policy (FTP) to be unveiled next month, the Union government may provide relief to exporters of services, who contribute over 40% of the country's exports, reports the Economic Times, citing commerce minister Anand Sharma.
He pointed to the considerable contribution of the services sector to exports, and said that discussions were on with the industry to provide a relief package to the service exports industry.
Addressing a conference of the Confederation of Indian Industry (CII), the minister said that India accounted for 2.7% of the world market in services exports compared to over 1% share in merchandise products exports. The country had the potential to raise its share in the global service exports to 4%-5% in the next three years.
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