Commerce and Industry Minister Suresh Prabhu said that the government will promote the growth of India’s education sector to increase overall service sector’s share in the GDP. The services sector currently contributes 2/3rd in India’s GDP.
In the Higher Education Summit 2018, he stated that “We want to increase the share of the sector in the economy, and education is an important sector in this, and we will promote it.”
The government has already started working with several universities and institutions. Employment being the major challenge in this generation, a boom in the service sector will help deal with the issue. The Union Cabinet had already allotted a fund of Rs 5000 crore and instructed the nodal ministries and departments to prepare a sectoral action plan. The 12 service sectors that were identified include:
- Tourism and hospitality
- Audio Visual
He wants the educational institutes to take a look into the challenges being faced by the industries and incorporate modern innovations like artificial intelligence, robotics, big data, etc., in the curriculum. Additional Secretary in the Department of Commerce, Sudhanshu Pandey feels that it is a dire requirement for the industries and universities to collaborate.
Quality, research, employability and internalization of institutes are some grey areas that both the sectors need to focus upon, according to Higher Education Secretary R Subrahmanyam.