New Delhi: Indian professionals are making their mark in international markets. To support this, the Department of Commerce held a special meeting called ‘Expanding Global Horizons: Opportunities for Indian Professionals’. Here, experts and policymakers discussed how to enhance India’s professional services abroad.
Commerce Secretary Rajesh Agrawal highlighted that simply having ambition isn’t enough. He called for better teamwork among all parties involved and specific reforms within India. He also pointed out the importance of making sure our professional agreements are respected in international trade deals, known as Free Trade Agreements (FTAs). Additionally, he emphasized the need for Mutual Recognition Agreements (MRAs) to validate Indian qualifications overseas.
Dr. Debashis Mitra, a chartered accountant, noted that Indian and foreign institutions have partnered for years. While this collaboration isn’t new, challenges like visa issues and political tensions have slowed progress in areas like auditing. Thankfully, the situation is improving. With new FTAs in place, both India and its partners are more eager to engage in business, boosting the export of Indian services.
The meeting was structured around four main topics: preparing professionals for global markets, enhancing international mobility through MRAs, creating professional networks abroad, and utilizing FTAs to support service exports.
Efforts were made to share best practices among professional bodies in India. The goal is to adapt to changes in technology, like Artificial Intelligence (AI). The Indian Institute of Chartered Accountants (ICAI) received praise for its forward-thinking strategies, including tech-focused training programs. Other professional organizations were encouraged to adopt similar methods.
Special attention was given to the Indian Nursing Council for its work in helping nurses enter international markets, especially in the face of strict regulations abroad. Training initiatives like high-fidelity simulation labs and language courses were recognized as effective practices.
The discussions emphasized the potential of FTAs and MRAs as significant growth factors for Indian professional services. Participants explored how India can secure a future that embraces digital professional services while maintaining fair qualification standards. An openness to allow foreign professionals to practice in India was also discussed, aiming to create win-win situations.
As foreign universities consider opening campuses in India, concerns around data privacy and protection were addressed. The Department of Commerce plans to collaborate closely with stakeholders to implement key actions from the meeting, with the aim of expanding the reach of Indian professional services worldwide.
For further insights on this topic, consider reading:
- India–New Zealand Financial Services Pact Signals New Push For Rupee Globalisation And Fintech Cooperation
- India And Russia Agreed To Accelerate Negotiations On A Proposed FTA Between New Delhi And Eurasian Economic Union
Source link
PROFESSIONALS, SERVICE EXPORTS, FREE TRADE AGREEMENTS, SKILLS, INDIAN TALENT, TAKING INDIAN TALENT GLOBAL: GOVERNMENT PUSH TO UNLOCK NEW MARKETS FOR PROFESSIONALS
