Enhanced stakeholder coordination, reforms in the domestic ecosystem, and legally binding commitments on professional services under various Free Trade Agreements (FTAs) will unlock global markets for Indian professional services, Commerce Secretary Rajesh Agrawal said on Wednesday.
Inaugurating a Chintan Shivir on Professional Services, Agrawal emphasised that India’s demographic dividend offers immense potential to meet the rising global demand for professional services.
He stated that to realise this potential, it is critical to adopt global best practices and equip professionals with upgraded skills aligned with evolving global market needs and technological developments.
The Commerce Secretary said that greater openness in international trade in professional services would enhance competitiveness in India’s economy and encouraged professional bodies to organise and participate in international conferences to enable knowledge sharing and provide platforms for enhanced collaboration.
The Department of Commerce (DoC), Ministry of Commerce and Industry, in association with the Institute of Chartered Accountants of India (ICAI) and the Services Exports Promotion Council (SEPC), organised the Chintan Shivir under the theme “Expanding Global Horizons: Opportunities for Indian Professionals”.
During the event, the Commerce Secretary further underscored the importance of services trade for India’s economic growth, noting its strong contribution to domestic value addition vis-à-vis merchandise exports.
The Chintan Shivir was organised in four sessions: Making Globally Ready Professionals; Strengthening International Mobility through MRAs and MoUs; Developing Networks—Formation and Expansion of Professional Chapters Abroad; and Leveraging FTAs for Boosting Professional Services Exports.
At the Chintan Shivir, discussions focused on making India’s sectoral regulatory frameworks more ‘recognition-ready’ for pursuing MRAs.
In the context of Global Capability Centres and the rapid scaling of digitally delivered services, the role of MRAs in India’s future professional services export strategy was also deliberated.
On leveraging FTAs, discussions focused on future-proofing the digital delivery of professional services, in addition to mobility-related provisions and horizontal domestic regulations related to qualification requirements and procedures.