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India should unleash energy in the service sector so as to provide services globally at the most competitive cost, Finance Minister Arun Jaitley has said.
Efforts should be taken to leverage the lower wage cost to get the better of other low-cost economies, Jaitley said in his address at the first-ever Global Exhibition of Services, organised jointly by the CII and the Commerce Ministry here on Saturday. Jaitley also noted that the sectoral limits on FDI no longer made sense in an era when curbs could be breached through technology.
He cited the examples of satellite-based television channels, the ability to read all international newspapers on the Internet and even Indian lawyers providing opinion to foreign counterparts as instances where technology has helped defy services’ limits.
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