Finance Minister Nirmala Sitharaman presents the 'Union Budget 2026-27' in the Lok Sabha, in New Delhi.
Credit: PTI PHoto
New Delhi: The government on Sunday announced to set up a high-powered 'Education to Employment and Enterprise' standing committee to recommend measures that focus on the growth of the services sector.
This will make the country a global leader in services, with a 10 per cent global share by 2047, Finance Minister Nirmala Sitharaman said in her Budget speech.
The committee, she said, will prioritise areas to optimise the potential for growth, employment and exports.
They will also assess the impact of emerging technologies, including AI, on jobs and skill requirements and propose measures.
"I propose to set up a High-Powered Education to Employment and Enterprise Standing Committee to recommend measures that focus on the Services Sector as a core driver of Viksit Bharat," she said.
The announcement is important as the sector contributes over 50 per cent in the country's exports and GDP.
The estimated value of service exports during April-December 2025 is Rs 27,86,874 crore ($303.97 billion) as compared to Rs 26,17,811 crore ($285.53 billion) in April-December 2024.
The imports during April-December 2025 was estimated at 152.23 billion as compared to Rs 13,75,329 crore ($150.01 billion) in April-December 2024.
The services trade surplus during the nine-months period was Rs 13,91,191 crore ($151.74 billion) as compared to Rs 12,42,481 crore ($135.52 billion) in the same period of 2024.
The country's services exports stood at Rs 35,52,698 crore ($387.5 billion) in 2024-25. IT and ITeS accounts for over 60 per cent of the total shipments. The sector is also a key part in all the free trade agreements being finalised by India so far.
The terms of reference of this committee include identifying services sub-sectors with potential for growth, employment and exports, identify sector-specific gaps and measures to unlock employment potential; identify cross-sectoral policy and regulatory issues, including standards-setting and accreditation; and examine areas for services export.
It will also assess the impact of emerging technologies, including AI, on jobs and skill requirements; and propose specific measures for embedding AI in the education curriculum from school level onwards and upgrading State Councils of Educational Research and Training institutes for teacher training.
Further the committee would propose measures for upskilling and re-skilling of technology professionals/engineers in AI and emerging technologies; and steps for AI enabled matching of worders, jobs and training opportunities.
It would also recommend measures to make the informal workflow visible, verifiable and future-ready, to enhance upward mobility prospects; and propose steps to be taken to attract skilled diaspora and foreign talent into the country.