Considering Maharashtra as country’s economic and investment engines, Prez Kovind inaugurates Global Exhibition on Services

Mumbai, May 15: After having a fruitful tour to Rajasthan, President Ram Nath Kovind has now headed on his next leg of visit to Maharashtra. President Kovind graced the event by inaugurating the 4th Global Exhibition on Services and launch of the “12 Champion Services” initiative in Mumbai today. A four-day event, the Global Exhibition on Services, has been scheduled to be held for the first time in Mumbai from May 15 to May 18.

 

The exhibition was been inaugurated by President Ram Nath Kovind, Maharashtra governor C. Vidyasagar Rao and Chief Minister Devendra Fadnavis which has been organised in association with the Union commerce and industry ministry and government of Maharashtra for the services sector. Along with it the President also launched the logo for services and also launched their portal. More than 5,000 service entrepreneurs from 100 countries will be participating in the event.

The services sector has a major role to play in the development of the country as well as industrial production in India. In view of this, the Global Exhibition on Services, an international council, has been organised since 2015.

 

Addressing the event, Prez Kovind said that he commends the Union Ministry of Commerce and Industry and Govt of Maharashtra, as well as their partners, CII and Services Export Promotion Council, for creating this initiative.

Congratulating CM Maharashtra Devendra Fadnavis to co-host the event, President Kovind further said that Maharashtra has been one of our country’s economic and investment engines. It has a strong manufacturing base and has complemented this with an accelerating services sector.

He further said that In India, the services sector contributes 61% in gross value added. With its young population, large talent pool and comfort with technology, India has natural advantages in the sector and is set to become even more of a provider of services to the world. India’s global services exports stood at 3.4% in 2016. However the target is a 4.2% share of global services by 2022.

As a country we are experiencing the age of the Digital Economy and 4th Industrial Revolution. The synergy of technology and services is unfolding before our eyes. Technology has emerged as an enormous enabler and allowed local services companies to go national or even global.

India has been the third largest center of start-ups in the world; this has thrown up a generation of young entrepreneurs, of men and women with hunger and ambition. So providing a platform for the young talent through such exhibition has given a determined push for financial inclusion using technology as well as for digital payments have collectively deepened India’s services story.