Kolkata, May 06: Indian Chamber of Commerce (ICC), a leading Chamber of Commerce in the city, has suggested that the services sector would be the key driver for achieving double-digit growth of GDP. In a study carried out by ICC, it had been found that the services sector would be the main engine of growth to achieve 12 per cent to 15 per cent GDP growth in future. In the services sector, the target growth rate had been pegged at 12 per cent against the current level of nine per cent, 20 per cent for hotels and tourism, and adequate emphasis on quality technical education to meet the future needs of IT and ITES industry. Other issues which had been dealt with in the study were the need to increase bandwidth and optical fibre network and extension of internet connectivity to rural India.
In the financial services sector, the ICC study said that the insurance basket would have to be diversified to tap the vast potential of the country.
Lack of a comprehensive social security system would also open up the need to market attractive savings instruments. Bureau Report