Karnataka to formulate strategy to grow services sector

Karnataka to formulate strategy to grow services sector

The state is hosting Global Exhibition on Services from Nov 26

Representative image. (DH photo)

The Karnataka government is formulating a strategy for the services sector growth as part of its efforts to improve its position in the sector in the country.

"We are already leaders in the IT and ITeS sectors having captured 38% of the country's total IT and ITeS exports. We are also leaders in the healthcare and education sectors. However, we want to improve our position in other champion sectors identified by the central government with the help of a focused approach,” said Jagadish Shettar, minister for large and medium industries, government of Karnataka.

The new strategy is aimed at replicating its success achieved in the IT sector in other champion sectors identified by the government, he said.

Speaking at the curtain-raiser of the Global Exhibition on Services (GES, 2019), organised by the state government in association with the ministry of commerce, Services Export Promotion Council and Confederation of Indian Industry (CII), here on Tuesday, Shettar said Karnataka is also at the forefront in other services sectors such as health, education and tourism.

"Bengaluru is the global outsourcing hub for IT & ITeS industry. The city houses most of the leading global IT players and is the fourth largest technology cluster in the world. We are home to 400 of the Fortune 500 companies who have a presence in India," Shettar said.

To increase its presence in the healthcare sector, the government is coming out with four new medical colleges in the state and has already secured approval from the Medical Council of India for three colleges, he said.

Bengaluru is now well known for medical value tourism. "Domestically, our Arogya Karnataka scheme is seeing tremendous success with more beneficiaries availing the services. The healthcare sector in Karnataka is well poised for growth, he said.

Stating that Karnataka has been blessed with a rich culture and heritage that makes it one of the leading tourist destinations in the world, the minister said that the government is planning to develop Jog Falls in Shivamogga district on the model of Niagara Falls in the US, which attracts tourists throughout the year.

The fifth edition of GES 2019 is being held between November 26 and 28 at Bangalore Palace Grounds. The event is expected to be attended by 600 global buyers from around 100 countries. The event is aimed at engaging industry and governments across the world to promote greater exchange of trade in services between India and the rest of the world.

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