A NITI Aayog report highlights how simplifying regulations could transform India’s professional services into a major driver of export growth, high-skilled jobs, and entrepreneurship amid demographic advantages.
India’s professional services sector could become a larger engine of export growth, high-skilled jobs and entrepreneurship if regulators create a simpler and more predictable environment, according to a NITI Aayog report released on Friday in New Delhi. The think tank said the country’s demographic peak makes the case for stronger support for knowledge-intensive work, which it described as central to the wider services economy.
The report argues that professional services already account for nearly a quarter of India’s services exports and play an outsized role in the value chain by supporting downstream industries, creating jobs and bringing in remittances. NITI Aayog said the sector’s regulatory framework deserves closer scrutiny because rules governing licensing, mobility and business conduct can either expand or constrain growth.
At the launch, Vice Chairman Ashok Kumar Lahiri presented the report alongside NITI Aayog chief executive Nidhi Chhibber and Saurabh Garg, secretary at the Ministry of Statistics and Programme Implementation. The organisation said the study combines a factual review of India’s rules for professional services with comparisons against selected foreign systems and draws on consultations with stakeholders.
The report also fits into a broader body of work by NITI Aayog, which describes itself as the government’s main policy think tank and a repository of research on economic sectors. Recent division reports have looked at services-sector growth, employment patterns and other industries such as tourism and hospitality, underscoring the agency’s push to link services reform with the goal of a developed India by 2047.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
