Recognizing the growing importance of services sector, the 2nd edition of the Global Exhibition on Services is being held from April 21-23 in Greater Noida.
The Department of Commerce, Ministry of Commerce & Industry, Government of India, the Confederation of Indian Industry (CII) and the Services Export Promotion Council (SEPC) will be jointly organizing the 2nd edition of the Global Exhibition on Services from 21-23 April 2016 at the IEC&M, Greater Noida.
GES 2016 will be inaugurated by President of India, Pranab Mukherjee, on April 20, 2016.
The focus sectors in GES-2016 are – Banking & Financial Services ; Education ; Environmental Services; Green Building / Architectural Services ; Healthcare; IT & Telecom; Logistics; Media & Entertainment; Next Gen Cities; Professional Services / Legal; Quality / TPM Services; R & D; Retail; Skills Expo; SMEs in Services; Space; Tourism & Hospitality.
“In the global context, the importance of the services sector cannot be emphasized more. It contributes more to global output and employs more people than any other sector. Globally, services contribute almost one-third of world gross value added, half of world employment, one-fifth of global trade and more than half of the world foreign direct investment flows. The services sector has thus emerged as the most dynamic sector of the world economy,” said an official statement.
Services sector contributed almost 66.1 per cent of its gross value added growth in 2015-16 in India. The services sector is an important net foreign exchange earner and the most attractive sector for foreign direct investment inflows. In 2014-15, while total FDI equity inflows grew by 27.3 per cent to US$30.9 billion, FDI equity inflows to the services sector grew by a whopping 70.4 % to US$16.4 billion.
The share of India’s services exports in global services exports, at 3.2 per cent in 2014, is nearly double that of its merchandise exports in global merchandise exports at 1.7 per cent. The sector is central to financing our merchandise trade deficit.
GES is fast emerging as a definitive platform for the Services Sector worldwide. The valedictory session on April 23, 2016 will be addressed by Union Finance Minister Arun Jaitley.