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Champion Services Sector Scheme

Champion Services Sector Scheme

Why in news?

  • Union Cabinet has approved the proposal of Ministry of Commerce and Industry to give focused attention to 12 identified Champion Services Sectors (CSS) for promoting their development and realizing their potential.

Champion Services Sector Scheme

  • It is a Central Sector, umbrella scheme of Department of Commerce for the period 2019-20 to 2023-24.
  • Department of Industrial Policy and Promotion (DIPP), the nodal department for ‘Make in India’, would spearhead the initiative for the Champion Sectors in manufacturing.
  • Department of Commerce would coordinate the initiative for the Champion Sectors in Services.
  • A dedicated fund of Rs. 5000 crores is to be established to support initiatives under these Action Plans.

12 Identified Sectors

  1. Technology & Information Technology enabled Services (IT& ITeS)
  2. Tourism and Hospitality Services
  3. Medical Value Travel
  4. Transport, and Logistics Services
  5. Accounting and Finance Services
  6. Audio Visual Services
  7. Legal Services
  8. Communication Services
  9. Construction, and Related Engineering Services
  10. Environmental Services
  11. Financial Services, and
  12. Education Services.

Objectives [ Champion Services Sector Scheme]

  • Address sectoral and cross cutting issues including regulatory reforms, service standards, data protection etc.
  • Promote innovation to enhance competitiveness and productivity
  • Boost services exports across broad range of services
  • Skill training and employment creation

Target

  • To increase share of India’s services sector in global services exports from 3.3% (in 2015) to 4.2 % (in 2022).
  • To increase the share of services in Gross Value Added (GVA) from 53% for India (in 2015) to 60% (in 2022).

Benefits [Champion Services Sector Scheme]

  • Pushing overall economic growth and job creation
  • Boost to the service sector of the country
  • Increase in job vacancy
  • Increased productivity and competitiveness of the Champion Services Sectors
  • Increase in competitiveness of the manufacturing sector.
  • Increase value addition and promote exports and push MSME sector
  • Efficient logistics management
  • Increasing international engagement
  • Champion Services Sector Scheme

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