The govt is working on a strategy to boost share of services, which will grow faster than merchandise exports raising the total exports from the country.
Spain’s service sector, which accounts for around half of total economic activity, expanded at its fastest rate in seven months in February, a survey showed.
NSE benchmark Nifty registered modest gains despite late volatility and advanced by 28.45 points to 10,817.
Suresh Prabhu said India and UK can work together on manufacturing and developing global supply chains for the future and the services sector has a "huge" potential.
Growth in France’s booming service sector exceeded preliminary expectations in November as strong demand led firms to step up hiring to the fastest pace in 16 years.
The Indian service sector's output expanded in September, due to "renewed increases in new business".
Activity in India's dominant service sector contracted at the sharpest rate in nearly four years in July after a new tax policy sowed confusion and sent new orders.
Activity in India's dominant service sector expanded at its fastest pace in eight months in June as new business orders surged, a private survey showed.
Pakistan achieved the highest annual growth of 5.3 per cent in a decade, a report said.
Debroy said that maximum job creation will happen in the services sector and not manufacturing.