NITI Aayog releases report on India’s Services Sector: Insights on Regulatory Regime in Professional Services

Key Highlights:

• NITI Aayog released a report titled "India’s Services Sector: Insights on Regulatory Regime in Professional Services".
• The report was launched by Shri Ashok Kumar Lahiri, Vice Chairman, NITI Aayog, on August 10, 2026.
• It provides a factual assessment of India’s regulatory framework in professional services, benchmarking it globally.
• Professional services contribute nearly a quarter of India’s total services exports.
• The report identifies challenges and outlines a way forward to strengthen the sector and unlock its potential.

Detailed Insights:

• This report is the third under NITI Aayog's Services Thematic Series.
• It emphasizes the high-value, knowledge-intensive nature of professional services, supporting job creation and remittance inflows.
• The report proposes a four-pronged strategy to enhance efficiency and output in professional services.
• This strategy includes harnessing emerging trends, elevating professional services in the value chain, adopting best practices, and continuous professional development.
• A robust regulatory ecosystem is crucial for boosting service exports, cross-border mobility of professionals, and ease of doing business.
• Strengthening this sector is integral to India's progress towards Viksit Bharat @2047.

Key Concepts Involved:

• Professional Services: High-value, knowledge-intensive activities that form the backbone of the services value chain and contribute significantly to exports.
• Regulatory Regime: The framework of rules, laws, and institutions governing a specific sector, ensuring its efficient and ethical operation.
• Viksit Bharat @2047: The Government of India's vision for India to become a developed nation by the year 2047.